PDS Biotech finds Brazilian partner for COVID-19 vaccine development

US clinical-stage immunotherapy firm PDS Biotechnology (Nasdaq: PDSB) saw its shares soar 12% pre-market today, after announcing a co-development agreement with Brazil-based Farmacore Biotechnology for Versamune CoV-2FC, a Versamune-based vaccine aimed at preventing COVID-19 infection. The stock was still up more than 5% at $1.45 by mid-day.

Under the collaboration, PDS Biotech and Farmacore will accelerate development of Versamune-CoV-2FC into Phase I clinical testing in Brazil, with initial financial support provided by the Brazilian Ministry of Science, Technology, Innovation and Communication (MCTIC). Other financial terms were not disclosed, though PDS Biotech is in discussions with other governmental and non-governmental agencies regarding additional funding for a COVID-19 vaccine.

Versamune-CoV-2FC combines a Farmacore-developed recombinant SARS-CoV-2 protein with PDS Biotech’s Versamune platform nanotechnology. The rapid advancement of this joint COVID-19 program expands upon a previously announced R&D collaboration between PDS Biotech and Farmacore to develop a Versamune-based vaccine for tuberculosis.