June 10, 2020 / 5:20 AM / 24 days ago

Indian firm Panacea says aiming to make COVID-19 vaccine

FILE PHOTO: Small bottles labeled with a "Vaccine COVID-19" sticker and a medical syringe are seen in this illustration taken taken April 10, 2020. REUTERS/Dado Ruvic/Illustration

BENGALURU (Reuters) - Indian biotech firm Panacea Biotec Ltd said on Wednesday it would partner with U.S.-based Refana Inc to make a potential vaccine for COVID-19.

The collaboration aims to make more than 500 million doses of the vaccine candidate, with over 40 million doses expected to be available early next year, Panacea said in a statement to stock exchanges.

Panacea’s shares jumped 20% in morning trading on India’s National Stock Exchange after the news.

Reporting by Sachin Ravikumar; Editing by Shailesh Kuber

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