Two Cheers For Panacea, Will It Get Three?
$24.3m Award For Easyfive-TT
Promising data from Phase I clinical trials of a dengue vaccine and a $24.3m award by UN agencies for its Easyfive-TT pentavalent vaccine bode well for Panacea Biotec, but are they enough to turn the company’s fortunes around?
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CEPI will provide up to $12.5m funding for Panacea Biotec and THSTI’s pan-beta coronavirus vaccine candidate, currently in the preclinical stage. Meanwhile, Panacea’s dengue and pneumococcal vaccines are on track for a 2023 launch.
Private US firm Refana, which expects its first commercial foray through a COVID-19 vaccine it will develop with Panacea Biotec, has obtained an option to acquire a stake in the Indian firm, with marketing rights to be split with the partners' 50:50 joint venture.
A US Complete Response Letter for SPARC’s paclitaxel product has cast a cloud over the project’s viability, but the company is still hopeful of an FDA approval by the fourth quarter of fiscal 2021. With the delay in commercialization, investment in some prioritized projects might also require external funding or even an exit from other research assets.