CnC BioVac Multi

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International Finance Corporation ("IFC"), a member of the World Bank Group ("WBG"), together with the Biologicals and Vaccines Institute of Southern Africa (Pty) Limited ("BioVac") are collaborating in the development of an integrated greenfield multi vaccine manufacturing plant in South Africa (the "Project"). The Project seeks to expand the fill and finish capacity of BioVac to up to 50 million vials per annum and set up of BioVac's drug substance suite of 50 million doses per annum to allow for end-to-end manufacturing. In addition, a secondary packaging line, warehouse and quality control laboratories will be built. BioVac is the lead developer of the Project and will work together with IFC as support developer. The Project footprint will be located in Cape Town. IFC and BioVac are working together through an Upstream Collaboration Agreement, under which IFC intends to provide certain project development support required to complete the Project technical and financial feasibility through managing and co-funding external consultants and deploying IFC's inhouse expertise and resources towards financial close of the Project. IFC is interested in providing equity and debt financing for the Project subject to satisfactory completion of the Project preparation tasks.