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Home / Companies / News /  Serum Institute of India to invest $68 million in UK's Oxford Biomedica

Serum Institute of India to invest $68 million in UK's Oxford Biomedica

FILE PHOTO: A research scientist works inside a laboratory of India's Serum Institute, the world's largest maker of vaccines, which is working on vaccines against the coronavirus disease (COVID-19) in Pune, India, 

Serum Institute of India will invest 50 million pounds ($68.24 million) in Oxford Biomedica, one of the COVID-19 vaccine manufacturers for drug major AstraZeneca

Vaccine producer Serum Institute of India will invest 50 million pounds ($68.24 million) in Oxford Biomedica, one of the COVID-19 vaccine manufacturers for drug major AstraZeneca, the British cell therapy firm said on Wednesday.

Vaccine producer Serum Institute of India will invest 50 million pounds ($68.24 million) in Oxford Biomedica, one of the COVID-19 vaccine manufacturers for drug major AstraZeneca, the British cell therapy firm said on Wednesday.

The proceeds of the transaction will be used to fund the development of the fallow area at Oxbox, the group's 84,000 sq. ft manufacturing facility based in Oxford, UK, into a flexible advanced manufacturing space and the validation of several independent cGMP suites, expected to come online in mid-2023.

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The proceeds of the transaction will be used to fund the development of the fallow area at Oxbox, the group's 84,000 sq. ft manufacturing facility based in Oxford, UK, into a flexible advanced manufacturing space and the validation of several independent cGMP suites, expected to come online in mid-2023.

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