Bloomberg writes about the boom that could be observed on Wednesday on the Warsaw Stock Exchange. Mabion’s shares increased by over 90 percent. after the announcement of an agreement between the Polish biotechnology company and the American company Novavax, which provides for cooperation on a newly developed vaccine against coronavirus.
The agency notes that thanks to this transaction, Mabion has become the fifth largest biotechnology company in Poland with a similar value to Biomed-Lublin. Larger than her are: Celon Pharma, Selvita, Ryvu Therapeutics and OncoArendi.
According to Bloomberg, Poland is pushing harder and harder in the rapidly growing biotechnology market. The agency reminds that the agreement of Mabion is not the first in this sector, which electrified the public opinion in recent months, as the contract worth PLN 1.4 billion was previously signed by OncoArendi with Galapagos NV, about which we were the first to inform in detail in money.pl.
On Wednesday, March 3, the media reported that Mabion had signed a contract with the American company Novavax. This company has developed a new proprietary COVID-19 vaccine. The registration process is currently undergoing a specificity.
NVX-CoV2373 – because that is the name of the preparation – is a protein vaccine, a new technology is used during its production – the SARS-CoV-2 coronavirus protein is recombined in insect cells. As a result, the production process can be much faster than with other vaccines.
See also: Polish vaccine against COVID-19. The price is surprising
On the basis of the signed contract, in the first half of this year, the company will transfer technology to its plant and then produce technical series of the active substance being the main ingredient of the vaccine.
The first tests show that the effectiveness of the Novavax vaccine is high – almost 90%. The results of the third, final phase of clinical trials are to be known later this month.
In December, the European Commission completed preliminary talks with Novavax to purchase 100 million doses and the option of ordering another such tranche for Member States.
Co-financing for Mabion is to be provided by the Polish Development Fund. The agreement concerns the potential investment of PFR up to the amount of PLN 40 million. The possible support is divided into two parts: PLN 30 million is a loan, and PLN 10 million can be used to acquire Mabion shares.