According to project documents, this financing involves the provision of a long term senior loan of up to USD 15 million (c. PLN 71 million) in favour of Mabion S.A. ("Mabion", "Company"), a joint-stock company domiciled in Poland. The proceeds from the EBRD loan will be used to support the first Covid-19 vaccine production roll out in EBRD COOs, on the back of the contract that Mabion recently concluded with Novavax, an American biotechnology company established 1987, listed on NASDAQ.
The proceeds would allow to enlarge Mabion's production capacity and to prepare for more CMO/CDMO (contract development and manufacturing organisation) opportunities and extension of cooperation with Novavax after expiration of the current contract. The Project will also support transformation of Mabion from a pure biotech company into a full-scale CMO/CDMO player. It will also provide Mabion with stable revenue stream to finance its internal drug development.
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The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.
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