Panacea Biotec terminates MoU with Refana for COVID-19 vaccine
24th Aug 2020

Panacea Biotec has terminated Memorandum of Understanding (MOU) with Refana Inc. USA, with effect from August 21, 2020. Termination is due to delays in project timelines and difficulty in moving ahead with the joint venture. The Company will not pursue development of Covid19 vaccine project in collaboration with Refana.

Earlier, the company had entered into agreement for development, manufacture and supply of a vaccine for Covid-19.

Panacea Biotec is a leading research based Biotechnology Company with established research, manufacturing and marketing capabilities.