RDIF and Minapharm agree to produce over 40 million doses of the Sputnik V vaccine in Egypt

The Russian Direct Investment Fund (RDIF, Russia's sovereign wealth fund), Egypt's Minapharm, the regional leader in recombinant DNA technology, and its Berlin-based subsidiary, ProBioGen AG, announce the agreement to produce over 40 million doses per year of the world's first registered vaccine against COVID-19, Sputnik V.

The parties intend to commence technology transfer immediately. The rollout of the vaccine is expected in 3Q 2021.

RDIF and Minapharm will initially supply over 40 million doses per year. Production will take place in Minapharm's biotech facility in Cairo for global distribution.

Minapharm's German subsidiary, ProBioGen AG, aims to undertake efforts for process optimization to further increase the production scale, taking advantage of its expertise in viral vector technology and manufacturing process development for vaccines and gene therapy.

To date, Sputnik V has been registered in 61 countries globally covering a total population of over three billion people. Sputnik V vaccine demonstrated efficacy of 97.6%, based on the analysis of data on the infection rate of coronavirus among those in Russia vaccinated with both components of the vaccine.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund, commented:

"Agreement with Minapharm marks our first partnership in the MENA region to produce Sputnik V. RDIF is in cooperation with the leading pharmaceutical producers globally as Sputnik V is registered in 61 countries. The Russian vaccine is highly efficient and trusted by regulators around the world and makes a huge contribution in the fight against coronavirus."

Wafik Bardissi, PhD, Chairman and CEO of Minapharm, added:

"This agreement is a natural expansion to Minapharm's regional leadership in biotechnologies, capitalizing on the vast international experience in cellular engineering and adenoviral vector technology of its wholly owned German subsidiary ProBioGen AG. We are pleased to join the RDIF in combatting the global COVID-19 pandemic."

Sputnik V has a number of key advantages:

• Efficacy of Sputnik V is 97.6% based on the analysis of data on the coronavirus infection rate among those in Russia vaccinated with both components of Sputnik V from December 5, 2020 to March 31, 2021.

• The Sputnik V vaccine is based on a proven and well-studied platform of human adenoviral vectors, which cause the common cold and have been around for thousands of years.

• Sputnik V uses two different vectors for the two shots in a course of vaccination, providing immunity with a longer duration than vaccines using the same delivery mechanism for both shots.

• The safety, efficacy and lack of negative long-term effects of adenoviral vaccines have been proven by more than 250 clinical studies over two decades.

• There are no strong allergies caused by Sputnik V.

• The storage temperature of Sputnik V at +2+8 C means it can be stored in a conventional refrigerator without any need to invest in additional cold-chain infrastructure.

• The price of Sputnik V is less than $10 per shot, making it affordable around the world.

Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF's management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 80 projects with foreign partners totaling more than RUB1.9 tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia's GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 18 countries that total more than $40 bn. 

Minapharm Pharmaceuticals is a leading pharmaceutical company in Egypt and the Middle East and the premier biopharmaceutical company in Africa with over 20 years of experience in cellular and bioprocess engineering. Headquartered in Cairo, Minapharm commercializes over 100 life-saving and life-enhancing products ranging from small molecules to complex genetically-engineered proteins, with an impressive immunotherapy pipeline. Minapharm's wholly owned Berlin-based subsidiary, ProBioGen AG, is a world-renowned contract development and manufacturing organisation (CDMO), a cell line-engineering specialist and a provider of proprietary protein and viral vector technologies to large pharma and the global biotech industry. Minapharm has established an integrated business model making it to-date the only gene-to-market biopharmaceutical company in the region. Minapharm employs a collective workforce of over 1400 and is listed on the Cairo and Alexandria stock exchange (symbol: MIPH).