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Adar Poonawalla's Serum Institute of India (SII) on Friday said that through the strategic alliance between Biocon Biologics and Serum Institue Life Sciences (SILS), it hopes to strengthen India's position as a global vaccine and biologics manufacturing powerhouse. Serum is the manufacturer of Covid vaccine — Covishield. 

Biocon Biologics Limited (BBL), a subsidiary of Biocon, on Thursday announced a strategic alliance with Serum Institute Life Sciences (SILS), a subsidiary of SII. 

As per the agreement, BBL will offer approximately 15% stake to SILS for access to a 100 million doses of vaccines per annum for 15 years.

Adar Poonawalla today said this alliance will only help strengthen India's vaccine and biologics capabilities.

The BBL will offer approximately 15% stake to SILS, at a post-money valuation of $4.9 billion. Bengaluru-based biopharmaceutical company will get access to a 100 million doses of vaccines per annum for 15 years, primarily from SILS’s upcoming vaccine facility in Pune with commercialization rights of the SILS vaccine portfolio (including Covid vaccines) for global markets.

In addition to vaccines, the alliance will also develop antibodies targeting several infectious diseases like Dengue, HIV, etc. The two companies will enter Service Level Agreements (SLAs) for manufacturing and distribution of the vaccines and antibodies.

Vaccines are a complementary business fit to BBL and provides a new dimension to its effort in improving global healthcare. Most recently, Biocon Biologics announced a manufacturing and commercialization partnership in select emerging markets with Boston based Adagio Therapeutics Inc. for ADG20, a novel Covid antibody therapy.

These collaborations support Biocon Biologics’ intent of straddling on both infectious and non-communicable diseases in its quest to impact global health.

Adar Poonawalla will have a Board seat in Biocon Biologics Limited.

On the alliance, Biocon executive chairperson Kiran Mazumdar-Shaw said: “This alliance will complement the strengths and resources of the two leading players in vaccines and biologics. Our shared vision of building large scale businesses having global impact makes it a unique and synergistic value creation opportunity."

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