Biocon Biologics to offer 15% stake to SII

September 17, 2021 09:10

Biocon Biologics Limited (BBL), a subsidiary of Biocon Ltd. and Serum Institute Life Sciences Private Limited (SILS) announced a strategic alliance on Thursday and BBL said it will offer around 15 per cent stake to SILS at a post-money valuation of about USD 4.9 billion.

Serum Institute Life Sciences Private Limited is a subsidiary of Serum Institute of India (SII).

As per the official release, under the terms of the agreement, BBL will offer approximately 15 per cent stake to SILS, at a post-money valuation of USD 4.9 billion, for which it will get committed access to 100 million doses of vaccines per annum for 15 years, primarily from SILS's upcoming vaccine facility in Pune with commercialization rights of the SILS vaccine portfolio, including COVID-19 vaccines, for global markets.

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