Express Pharma

Panacea Biotec terminates MoU with Refana for COVID-19 vaccine

The company informed that the termination is due to delays in project timelines and difficulty in moving ahead with the joint venture

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Panacea Biotec has terminated the MOU for development, manufacture and supply of a vaccine for COVID-19 in collaboration with Refana. The MOU, executed on June 9, 2020, was terminated with effect from August 21, 2020.

The company informed that the termination is due to delays in project timelines and difficulty in moving ahead with the joint venture.

It will not pursue the development of COVID-19 vaccine project in collaboration with Refana and will not make any investment in the joint venture company proposed under the MOU, informed the company through a statement.

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