DFC Supports Panacea Biotec with USD 20 Million Loan for Vaccine Expansion

US International Development Finance Corporation (DFC) has committed to providing a long-term loan of up to USD 20 million to Panacea Biotec. This funding aims to expand the manufacturing capacity for the drug substance antigens used in Panacea's hexavalent vaccine, EasySix, to meet global demand.

The US International Development Finance Corporation (DFC) has pledged a long-term loan of up to USD 20 million to Panacea Biotec, according to an announcement made by the company on Thursday.

The investment will boost Panacea's manufacturing capacity for the drug substance antigens used in its hexavalent vaccine, EasySix, in a bid to meet future demand from UN agencies and public health organizations.

The funding from DFC will speed up the ongoing expansion efforts, allowing Panacea to supply the vaccine globally for childhood immunization, the biotechnology firm disclosed in a regulatory filing.

'Our hexavalent vaccine EasySix, which adheres to the highest safety and efficacy standards, will significantly impact the lives of millions of newborns in developing countries,' remarked Panacea Biotec's Chairman and MD Rajesh Jain.

DFC Deputy CEO Nisha Biswal emphasized the organization's global and local partnership with India, stating, 'DFC is committed to delivering substantial developmental impacts for communities across India and collaborates with the Indian private sector to address some of the world's most pressing issues.'

On Thursday, Panacea Biotec's shares closed 7.59% higher at Rs 303.25 apiece on the BSE.

(With inputs from agencies.)