Polish company may produce vaccines against Covid-19

Investors reacted with euphoria to the information that the Polish biotechnology company Mabion has signed an agreement with the American company Novavax and will receive PLN 40 million from the Polish Development Fund (PFR) for the production of a COVID-19 vaccine. Mabion's share price has grown by over 50 percent.

The demand for shares was so high that the quotations did not start immediately after the opening of the session on the Warsaw Stock Exchange, and the company's price was balanced. 

Mabion cooperates with the American company Novavax, which is just registering its preparation. Information on signing an agreement with Novavax for technology transfer and signing an agreement with PFR on a potential investment of up to PLN 40 million was announced by Mabion on Wednesday before the stock exchange session. Everything depends on how the cooperation of Mabion with the American company develops.

The condition for obtaining financing from PFR is, inter alia, Mabion, and Novavax sign a contract for commercial production of the vaccine candidate: NVX-CoV2373. The Polish company has so far signed a framework agreement with an American partner.

“The framework agreement with Novavax is an extremely important opportunity for Mabion to use the knowledge and production capabilities of Mabion to combat the global pandemic. Our team of experts and production infrastructure are ready to start work on optimizing and scaling up the production scale of the Novavax vaccine candidate,” Dirk Kreder, President Mabion said.

(money.pl)