COVID-19 vaccines will be produced by the Polish company Mabion. For this purpose, the company concluded an agreement with Novavax, the value of which amounts to USD 372 million, i.e. approximately PLN 1.46 billion.
“The Management Board of Mabion SA (…) announces that on October 8, 2021, the Company concluded an agreement with Novavax, Inc. (…) for commercial contract production (…) together with the Terms of Reference (…), pursuant to which the Company will to produce on a commercial scale in the GMP standard (…) for Novavax the antigen of a vaccine candidate for COVID-19 (…) under the name NVX-CoV2373 “- informed Mabion in the current report on Friday.
The president of PFR, Paweł Borys, also informed about the conclusion of the contract between Mabion and Novavax on Twitter.
“As announced, Mabion is launching serial production of the COVID-19 vaccine in Poland with the financial support of @Grupa_PFR. The company successfully completed the technology transfer stage and concluded a long-term contract with Novavax” – wrote Borys.
Mabion will produce Covid vaccines
In the current report, Mabion wrote that “the commencement of the implementation of the order is a consequence of the company’s activities in the field of work related to the transfer of the manufacturing process and analytical methods based on Novavax procedures and requirements, as well as the preparation of the company’s quality system for the implementation of the new process and product provided for framework agreement with Novavax of 3 March 2021 “
The company also announced that the contract is unconditional, and that its conclusion and commencement of its implementation are independent of the registration procedure of the Novavax vaccine candidate in individual markets.
“The agreement was concluded for a specified period until the end of 2025, with an option to extend it. The total value of the Agreement during its term was estimated at USD 372 million, i.e. PLN 1.46 billion at the average exchange rate of the National Bank of Poland of October 7, 2021 (value The Agreement was estimated with the theoretical assumption of future inflation equal to zero throughout the term of the Agreement) “- it was written in the current report of Mabion.
It also indicated that the contract would be billed based on and produced batches of the vaccine at a fixed price indexed to future inflation. Production volumes and schedules have been established for each year from 2022 to 2025.
Mabion announced that the scope of work specified in the contract with Novavax is related to the production capacity available in the company. He added that the aim of the management board will be to expand the production capacity in 2022-23 by another two bioreactors, thanks to which it will have a total of four.
“The Management Board of the Company estimates that in the first two years of commercial production covered by the Agreement (i.e. in the years 2022-2023), the Company may realize approximately 40% of the total value of the Agreement, and in the next two years, e.g. as a result of increasing production capacity, about 60 percent of the total value of the Agreement, “Mabion informed.
It also added that the production of the vaccine would start in December 2021.
Main photo source: mabion.eu