- Collaboration will enable global development, manufacturing and distribution 
of the Candidate COVID-19 vaccine

    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.

    Logo: https://mma.prnewswire.com/media/1178902/Panacea_Biotec_Logo.jpg 

    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 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.

    Dr. Rajesh Jain, Managing Director, Panacea Biotec, said, "The world needs 
a vaccine that is safe, effective, and scalable in a cGMP compliant 
manufacturing facility that has sizeable capacity and capability to cater to 
global demand. Our collaboration with Refana aims to manufacture over 500 
million doses of our COVID-19 candidate vaccine, with over 40 million doses 
expected to be available for delivery early next year. Whole inactivated viral 
vaccines have a higher probability of being safe and efficacious, given their 
long history and better understanding of their mechanism of action, which has 
been elucidated over many decades. This vaccine has the potential to become the 
Vaccine of Choice for the global fight against COVID-19. We believe and hope 
that our vaccine will enable the world to get back to work fearlessly as soon 
as possible."

    Dr Phillip Schwartz stated, "Refana and its international network of 
scientific researchers and practitioners are dedicated to finding practical 
solutions to complex and urgent global medical problems. We are grateful for 
the input we have obtained from dozens of medical scientists and 
epidemiologists in more than a dozen countries in this unprecedented worldwide 
collaboration to end COVID-19. Our partnership with Panacea Biotec brings this 
dream to a practical realization with the ability to manufacture 500 million 
COVID-19 vaccines over 12 months. Utilizing proven models of viral pathogenesis 
and parallel conduct of multiple pre-clinical and clinical studies, Refana 
believes it can significantly accelerate the vaccine development and approval 
process for its tried and true whole inactivated viral vaccine approach. We are 
very excited to combine this approach with Panacea Biotec's world class 
technology, development and production capabilities."

    About Panacea Biotec

    Panacea Biotec is an innovation-led biotechnology group that focuses on 
discovery, development, and commercialisation of prescription medicines. Its 
facilities are WHO Prequalified, US FDA approved and cGMP compliant. It is also 
undertaking development of a novel Tetravalent Dengue Vaccine, Pneumococcal 
Conjugate vaccine among other differentiated drug development programs.

    In April 2019, India Resurgence Fund (IndiaRF), a leading India-focused 
investment platform, promoted by Piramal Enterprises Limited and Bain Capital 
Credit, announced an investment of up to INR 992 Crores / US$ 144 Million in 
Panacea Biotec.
For more information, visit: www.panaceabiotec.com

    About Refana

    Dr Schwartz is the Chief Scientific and Medical advisor to Refana Inc., and 
the founder and president of NASDAQ listed EnteraBio. Refana Inc., is United 
States registered private corporation dedicated to finding practical and 
innovative solutions to the world's medical problems. By utilizing a highly 
collaborative open source system of research and development Refana has been 
able to attract world leaders in their respective scientific and medical fields 
to work on these problems. Through this model Refana hopes to greatly 
accelerate the vaccine development process for Covid-19 and help protect not 
only the health of the world, but also the economies and stability of nations 
at risk.

    For more information regarding Refana and this announcement, please contact 
Debbie Fuller, Tel: +44-7494-636015, info@refana.com and pr@refana.com

    For more information:
    For Investors:	
    Mr. Devender Gupta
    Chief Financial Officer and Head Information Technology
    Tel: + 91-11-41679000 Ext. 1225, 41578011 (Direct)
    Email: devendergupta@panaceabiotec.com 

    For Media:
    Mr. P.D. Karan
    Vice President Corporate Communication & Business Development
    Tel: + 91-11-4167900 Ext.1406
    41578080 (Direct)
    Email: pdkaran@panaceabiotec.com 
                                                           
    
    Source: Panacea Biotec