Ocugen Inc (NASDAQ:OCGN) has signed a non-binding letter of intent to acquire Liminal Biosciences Inc's (NASDAQ:LMNL) manufacturing site in Belleville, Ontario, for an undisclosed amount.
- The newly acquired site would enable Ocugen to expand its manufacturing and research and development capabilities to support its pipeline, including the manufacture of Covaxin, its COVID-19 vaccine candidate.
- "We are excited to see Ocugen's plans to repurpose our dormant vaccine manufacturing facility and create vaccine manufacturing capacity in Canada," said Alek Krstajic, Chairman of the Board, Liminal BioSciences.
- Covaxin was developed by Bharat Biotech in collaboration with the Indian Council of Medical Research (ICMR).
- Related: Ocugen-Bharat Biotech Partnered COVID-19 Booster Covaxin Neutralizes Omicron, Delta Variants.
- Earlier today, India's drugs regulator has given conditional approval to Covishield and Covaxin for sale in the market.
- Market approval, however, does not mean that the vaccines will be available in medical shops. People will have to buy Covishield and Covaxin from hospitals and clinics.
- Price Action: OCGN shares are down 3.49% at $3.04 during the market session on the last check Thursday.
