The Russian Direct Investment Fund (RDIF), the country's sovereign wealth fund, said it has reached an agreement with Egypt's Minapharm, a regional leader in recombinant DNA technology, and its Berlin-based subsidiary, ProBioGen to produce over 40 million doses per year of Sputnik V, the world's first registered vaccine against Covid-19.
The parties intend to commence technology transfer immediately, said the statement from RDIF, adding the rollout of the vaccine is expected in the third quarter.
RDIF and Minapharm will initially supply over 40 million doses per year. Production will take place in Minapharm's biotech facility in Cairo for global distribution.
Minapharm's German subsidiary, ProBioGen, aims to undertake efforts for process optimization to further increase the production scale, taking advantage of its expertise in viral vector technology and manufacturing process development for vaccines and gene therapy, said the statement.
To date, Sputnik V has been registered in 61 countries globally covering a total population of over three billion people.
Sputnik V vaccine demonstrated efficacy of 97.6%, based on the analysis of data on the infection rate of coronavirus among those in Russia vaccinated with both components of the vaccine, it added.
On the deal, CEO Kirill Dmitriev said: "The agreement with Minapharm marks our first partnership in the Mena region to produce Sputnik V. RDIF is in cooperation with the leading pharmaceutical producers globally as Sputnik V is registered in 61 countries."
"The Russian vaccine is highly efficient and trusted by regulators around the world and makes a huge contribution in the fight against coronavirus," he noted.
Minapharm Chairman and CEO Wafik Bardissi said: "This agreement is a natural expansion to Minapharm's regional leadership in biotechnologies, capitalizing on the vast international experience in cellular engineering and adenoviral vector technology of its wholly owned German subsidiary ProBioGen AG."
We are pleased to join the RDIF in combatting the global Covid-19 pandemic," he added.-TradeArabia News Service