Updated: September 17, 2021 12:26:33 pm
Biocon Biologics Limited (BBL), a subsidiary of Biocon Ltd. and Serum Institute Life Sciences Private Limited (SILS), a subsidiary of Serum Institute of India Pvt Ltd, announced a strategic alliance on Thursday.
Under the terms of the agreement, BBL will offer approximately 15% stake to SILS, at a post-money valuation of $4.9 billion, for which it will get committed access to 100 million doses of vaccines per annum for 15 years, primarily from SILS’s upcoming vaccine facility in Pune, with commercialisation rights of the SILS vaccine portfolio (including Covid-19 vaccines) for global markets. The strategic alliance will also develop antibodies targeting several diseases such as dengue, HIV, etc.
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