BNDES invests 804 million real in Novartis' new Brazil biotechnology unit

The Brazilian Development Bank will finance 804 million real ($342 million) for the construction of a biotechnology plant in Jaboatao Guararapes (Pernambuco state) being established by Swiss drug major Novartis (NOVN: VX), reports Juliane Carvalho of Brazil Pharma News.

BNDES executive board approved the financing of a new biotech plant which will manufacture three types of proteins used in the formulation of an innovative vaccine against meningitis B, Bexsero. The product will be the first vaccine against meningitis B produced from a pioneering technology known as "reverse vaccinology." The new vaccine is composed of four antigens from which three will be produced at Novartis new plant in Pernambuco and exported to a business unit in Italy, which will be incorporated in the vaccine against meningitis B.

The technology related to the manufacturing processes of antigens produced in Brazil will be transferred to another unit of Novartis in Austria. The project will contribute to Brazil's insertion in the technological route of biotechnology and generate skilled jobs in the Northeast.