Vaccine maker Biovac in search of R2bn in funding to lift output

The Biovac Institute is in talks with the US International Development Finance Corporation and other potential financiers, as it seeks to raise R2bn to expand its vaccine manufacturing capacity. State-backed Biovac recently clinched a deal to bottle up to 100-million doses a year of Pfizer-BioNTech Covid-19 vaccines and helps manufacture smaller volumes of childhood vaccines for Pfizer and Sanofi.

The SA leg of his trip includes tours of Biovac and Aspen Pharmacare, which in June received a €600m long-term debt financing package from a consortium of development finance institutions that included the DFC. Aspen has been contracted by Johnson & Johnson to formulate, fill and finish its Covid-19 shot, and aims to increase production to 450-million doses a year by February.

“At the DFC we are focused on getting shots in arms as quickly as possible, so the focus is on [vaccine manufacturing] companies that have a partnership in place with existing pharmaceutical companies,” he said.

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