Providence Therapeutics Holdings Inc. of Canada and Biological E. Limited of India announce the execution of a term sheet for the licensing and collaboration of mRNA vaccine

Providence Therapeutics Holdings Inc. and Biological E. Limited announce the execution of a term sheet, that sets forth the material terms for a definitive licensing and collaboration agreement and also outlines the terms for sale by Providence of up to 30 million doses of Providence's proprietary messenger RNA vaccine, PTX-COVID19-B, to Biological E and other End-Buyers. This sale represents the sale of all the remaining 2021 Providence production, plus a portion of the early 2022 Providence production, after accounting for the first sale of Providence vaccines to the Province of Manitoba, Canada.