Panacea Biotec aims to make 1 bln doses of COVID-19 vaccine candidate in 2022 (updated)

Panacea Biotec

08/07/2020 11:08

(Adds details from company statement, background, share move)
    BENGALURU, July 8 (Reuters) - Indian biotech firm Panacea
Biotec Ltd  PNCA.NS  said on Wednesday it remains on schedule to
produce first production quantities of COVID-19 vaccine
candidate by January 2021.
    Shares of Panacea Biotec rose as much as 5.9% after the news
in its sharpest daily move in nearly three weeks, before
trimming some gains to trade up 1.2% by 0936 GMT.
    The company said last month it would partner with U.S.-based
Refana Inc to make a potential COVID-19 vaccine, in a
collaboration that expects to have over 40 million doses
available early next year.  urn:newsml:reuters.com:*:nL4N2DN17Q
    "We continue to evaluate candidate vaccines in pre-clinical
investigations in accordance with (our) timeline. We do not
envisage the commencement of clinical studies until September
this year," the company said in an emailed statement.
    It has set production targets of 500 million doses for 2021
and one billion doses in 2022 for its COVID-19 vaccine
candidate. 
    The company is looking to produce an inactivated COVID-19
vaccine, the technology for which is well known and has been
used to make vaccines against diseases such as influenza and
measles.
    India's Bharat Biotech and Zydus Cadila, listed as Cadila
Healthcare Ltd  CADI.NS , have received regulatory approvals to
test their vaccine candidates in humans.   
    There are no approved vaccines for the respiratory illness
caused by the new coronavirus, but 19 candidates are being
trialled in humans globally. China is leading the race, with an
experimental vaccine by Sinovac Biotech Ltd  SVA.O  set to
become the country's second to enter final stage testing later
this month.  urn:newsml:reuters.com:*:nL4N2EE2Z9
    
         

 (Reporting by Anuron Kumar Mitra in Bengaluru; Editing by
Krishna Chandra Eluri)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))