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Biocon Biologics, Serum Institute Life Sciences enter strategic alliance

Ruchika SharmaWritten by Ruchika Sharma Published On 2021-09-17T12:48:18+05:30  |  Updated On 17 Sept 2021 12:48 PM IST
Biocon Biologics, Serum Institute Life Sciences enter strategic alliance
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Bengaluru: 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. has recently announced a strategic alliance.

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 a 100 million doses of vaccines per annum for 15 years, primarily from SILS's upcoming vaccine facility in Pune with commercialization rights of the SILS vaccine portfolio (including COVID-19 vaccines) for global markets.

Pursuant to the terms of the agreement, BBL will generate a committed revenue stream and related margins, commencing H2, FY23. Adar Poonawalla will have a Board seat in Biocon Biologics Limited.

In addition to vaccines, the strategic alliance will also develop antibodies targeting several infectious diseases like Dengue, HIV, etc. The two companies will enter Service Level Agreements (SLAs) for manufacturing and distribution of the vaccines and antibodies.

"Vaccines are a complementary business fit to BBL and provides a new dimension to its effort in improving global healthcare," the release stated.

Most recently, BBL announced a manufacturing and commercialization partnership in select emerging markets with Boston based Adagio Therapeutics Inc. for ADG20, a novel COVID-19 antibody therapy. These collaborations support Biocon Biologics' intent of straddling on both infectious and non-communicable diseases in its quest to impact global health.

Kiran Mazumdar-Shaw, Executive Chairperson, Biocon & Biocon Biologics, said: "This alliance will complement the strengths and resources of the two leading players in vaccines and biologics. Our shared vision of building large scale businesses having global impact makes it a unique and synergistic value creation opportunity."

Adar Poonawalla, CEO, Serum Institute of India, commented: "We look forward to complementing each other's capabilities and capacities in vaccines and biologics, with the objective of addressing inequitable access both in emerging and developed markets for life saving vaccines and biologics."

Biocon Biologics will also establish, at its cost, a vaccine R&D division to support the strategic alliance in developing both vaccines and biologics for communicable diseases. Additionally, wherever possible, it will make available its cell culture and sterile fill and finish capacities, for vaccine production under the strategic alliance.

Both companies believe that this is an alliance that can make significant impact on global healthcare through vaccines and biologics.

Biocon Biologics would issue shares and receive the contemplated rights through a merger with Covidshield Technologies Pvt. Ltd. (CTPL), a wholly owned subsidiary of SILS, on customary closing conditions and receipt of regulatory approvals.

Read also: Biocon Biologics, Viatris get USFDA nod for first interchangeable biosimilar Semglee for diabetes



biocon biologicsbiocon biologics newsserum institute life sciencesserum institute life sciences newsserum institute of indiabiocon
Ruchika Sharma
Ruchika Sharma

    Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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