DFC commits US$20 million long-term loan to Panacea Biotec towards capacity expansion project for Hexavalent Vaccine

Panacea Biotec is expanding manufacturing capacity for drug substance antigens used in its hexavalent vaccine EasySix to meet future demand from U.N. agencies and public health organizations. DFC has agreed to provide a long-term loan of up to $20 million to Panacea Biotec to help finance this project. DFC and Panacea Biotec signed a commitment letter for this financing on September 12, 2024. DFC’s financing will enable Panacea Biotec to expedite completion of the ongoing expansion and supply the hexavalent vaccine to U.N. agencies for childhood immunization globally.

Speaking on the occasion, Dr. Rajesh Jain, Chairman and Managing Director, Panacea Biotec, said “We are excited to have DFC as our partner in our mission to protect children from critical diseases by providing innovative and affordable vaccines across the globe. Our hexavalent vaccine EasySix, which meets the highest standards of safety and efficacy, will have a meaningful impact on the lives of millions of newborns in the developing world.”

Ms. Nisha Biswal, Deputy CEO, DFC said, Our partnership with India is both local and global. DFC is working to deliver concrete developmental impact for communities across India, and we are partnering with the Indian private sector to tackle some of the world’s most pressing challenges."