UK's Cambridge Biostability forms jv with Panacea Biotec of India

Published: 6-Dec-2006
Finance Pharmaceutical

Cambridge Biostability, a UK-based developer of temperature-stable liquid vaccines, and Panacea Biotec, the second largest vaccine producer in India, have entered into a joint venture.


Cambridge Biostability, a UK-based developer of temperature-stable liquid vaccines, and Panacea Biotec, the second largest vaccine producer in India, have entered into a joint venture.

Under the jv terms, Panacea Biotec has taken a 10% stake in Cambridge Biostability, for a total consideration of £1.935m.

In addition, Rajesh Jain, joint md of Panacea Biotec, has been appointed to the board of CBL as non-executive director.

Cambridge Biostability has also signed a long term licensing agreement with Panacea Biotec that could provide significant gross royalty income to CBL over the period. Panacea Biotec is to in-license CBL's stable liquid technology to develop, produce and market a stable liquid version of pentavalent and other combination vaccines for the treatment of diptheria, tetanus, pertussis (whooping cough), hepatitis B and haemophilus influenza B (a major cause of bacterial meningitis and pneumonia in children).

The products will be unique in that they will not require storage under refrigeration or reconstitution before use.

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