Under the collaboration, Panacea Biotec is advancing its response to address the unprecedented challenges of COVID-19 by collaborating with Refana Inc. USA to make Covid-19 vaccine widely accessible around the world in an equitable manner through a Joint Venture company to be based in Ireland.

The collaboration aims to bring to patients a whole inactivated virus-based vaccine for Covid- 19. Under the collaboration, Panacea Biotec will be responsible for product development and commercial manufacturing, with the Joint Venture Company undertaking clinical development and regulatory submissions across the World. Both Panacea and Refana will undertake sales and distribution of the vaccine in their respective territories.