US DFC to extend $ 50 million vaccine assistance to Biological E

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HYDERABAD: As part of the Quad vaccine partnership, the US International Development Finance Corporation (DFC) will provide $ 50 million in financial assistance to Hyderabad-based Biological E Ltd to help the vaccine manufacturer to increase its capacity to make more than 1 billion doses of Covid-19 vaccines by the end of 2022.
DFC COO David Marchick and Biological E Managing Director Mahima Datla will sign on the dotted line to the Hyderabad deal on Monday.
The formalization of the funding agreement comes more than six months after the U.S. government announced its decision to extend its assistance to the Indian vaccine maker following the Quad Leaders’ Summit, which was held virtually in March 2021.
The Quad is an informal strategic forum comprising India, the United States, Japan and Australia that aims to counter the growing influence of China in the Indo-Pacific region.
Biological E has already been mandated by the American pharmaceutical major Johnson & Johnson to manufacture more than 500 million doses of its Covid-19 vaccine per year. J&J signed the pact in August 2020 to manufacture doses of the Janssen Covid-19 single injection vaccine in India.
Biological E chief executive Datla had told TOI earlier that the Quad initiative would offer “broad support to Bio E to increase capacity” for both the J&J vaccine and the one it is developing in collaboration with the Houston-based Baylor College of Medicine after obtaining the World Health Organization Prequalification.

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