Benzinga | Nov 8, 2021 10:15AM EST

Amyris, ImmunityBio Join Forces For Next-Gen COVID-19 RNA Vaccine

* Amyris Inc (NASDAQ:AMRS) has entered into a 50:50 joint venture arrangement with ImmunityBio Inc (NASDAQ:IBRX) to commercialize a next-gen COVID-19 vaccine.

* The parties have signed a binding term sheet, and a definitive agreement is in process and is expected to be executed within the next month.

* ImmunityBio will be responsible for manufacturing the vaccine once human trials are completed in South Africa.

* Amyris will contribute its RNA technology licensed from the Infectious Disease Research Institute (IDRI).

* Amyris will also provide sustainable squalene, an organic compound used to produce the vaccine.

* Upon completion of human trials, the joint venture's goal is to deliver one billion doses of the new vaccine in 2022.

* Price Action: AMRS shares are down 3.94% at $13.53, and IBRX shares are up 2.14% at $8.62 during the market session on the last check Monday.