Canadian biotechnology company Providence Therapeutics Holdings Inc and the Hyderabad-based Biological E Ltd have signed up for a licensing and collaboration agreement for Providence’s mRNA vaccine, PTX-Covid19-B.

Providence will provide the technology transfer for Biological E to manufacture mRNA vaccines in India, with a minimum production capacity of 600 million doses in 2022 and a target capacity of 1 billion doses.

The agreement provides for sale of Providence’s 30 million doses of its proprietary mRNA vaccine to Biological E and other end-buyers.

This arrangement represents the sale of all the remaining 2021 and a portion of the early 2022 Providence production, after accounting for the first sale of Providence vaccines to the Province of Manitoba, Canada.

Also read: Biological E. to produce J&J Covid-19 vaccine

Biological E will be responsible for clinical development, trials and regulatory activities and emergency use authorisation for the mRNA vaccine in India and other jurisdictions licensed by Biological E.

“This initiative is an important commitment by a Canada-based company to help India and other nations vaccinate their citizens against Covid-19. Providence was founded to serve patients, and this commitment by Biological E allows us to achieve that essential goal,” Brad Sorenson, CEO of Providence, said.

“Biological E. is very pleased to work with Providence on its promising mRNA vaccine candidate. We hope to provide India and other countries yet another option to ramp up their efforts towards achieving herd immunity against COVID-19,” said Mahima Datla, Managing Director of Biological E Limited.

The companies did not disclose the financial terms of the transaction.

While BE currently has 8 WHO-prequalified vaccines in its portfolio, Providence is a Canadian clinical stage biotechnology company pioneering mRNA therapeutics and vaccines with operations in Calgary, Alberta and Toronto, Ontario.

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