Serum Institute of India is headquartered in Puna, Maharashtra. Adar Poonawalla’s company is the world’s largest vaccine manufacturer.
India’s vaccine manufacturing company, Serum Institute of India (SII) will invest $68 million in Oxford Biomedica. The UK’s vaccine maker said on Wednesday that SII has agreed to fund the development of a COVID-19 vaccine plant.
As part of the deal, Serum Life Sciences Ltd, a unit of SII, will be getting a 3.9% stake in Oxford Biomedica.
According to the British company, the fund will be used to develop a new space in its Oxbox plant into a vaccine manufacturing space, which is expected to be ready for manufacturing in mid-2023
Based in Pune, India, Serum Institute of India is the world’s largest producer of vaccine in terms of volume. SII and Oxford Biomedica together produce AstraZeneca’s COVID-19 vaccine.