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Emergent to make Providence Therapeutics potential COVID-19 Vaccine

Emergent BioSolutions Inc (EBS.N) signed a five-year agreement with Canadian biotechnology company Providence Therapeutics to develop and manufacture its COVID-19 vaccine candidate for about $90 million.

Emergent will produce drug substances for Providence's vaccine candidate, PTX-COVID19-B, as well as provide services for finished products such as filling the vaccine in vials at its Winnipeg facility in Canada.

The vaccine uses the messenger RNA (mRNA) technology, also used in COVID-19 shots developed by Moderna Inc (MRNA.O) and Pfizer Inc (PFE.N). Providence's vaccine is currently being tested in a mid-stage trial in Canada.


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