Financing will support domestic biomanufacturing capacity and capabilities for biologics, vaccines, and nucleic acids
WASHINGTON – Today, the U.S. International Development Finance Corporation (DFC), working in close partnership with the U.S. Department of Defense, executed a $410 million loan to National Resilience Inc. (Resilience), a San Diego-based company. The loan was made through the Defense Production Act (DPA) Loan Program. In line with the purpose of the DPA to meet an emergency need in a time of national crisis, the loan will support the safe and effective manufacturing and delivery of vaccines and critical medicines across the country. The funding will advance the company’s mission to solidify end-to-end biomanufacturing capacity and capabilities.
“This loan advances the goals of the DPA Loan Program originated in response to the COVID-19 pandemic national emergency,” said DFC CEO Scott Nathan. “By supporting the production of critical medical goods made in the United States, the loan will help to strengthen the security and resilience of domestic supply chains.”
“This crucial loan furthers the goals underpinning the President’s September 2022 Executive Order on Advanced Biotechnology and Biomanufacturing Innovation for a Sustainable, Safe, and Secure American Bioeconomy and is in alignment with the Department of Defense’s Biomanufacturing Strategy, released earlier this month,” said Ms. Deborah Rosenblum, Assistant Secretary of Defense for Nuclear, Chemical, and Biological Defense Programs and performing the duties of Assistant Secretary of Defense for Industrial Base Policy. “It exemplifies the innovation present in our domestic biomanufacturing industrial sector, and, in the spirit of the President’s February 2021 Executive Order on America’s Supply Chains, demonstrates the U.S.’s commitment to ensuring the resilience of our critical supply chains.”
The company will use the loan to fortify its ability to deliver quality health care products for the American people. Specifically, the funding will increase manufacturing of biologics (antibodies, proteins, multi-specifics), vaccines, and nucleic acids (including mRNA). The investment enhances the DPA Loan Program’s efficacy by further securing the domestic drug supply chain.
In response to the national emergency, DFC’s CEO was delegated authorities to carry out support under the DPA Loan Program. The commitment of the loan to Resilience in March 2022 marked the end of DFC’s role in sourcing projects under the program. DFC continues to use its tools to secure vaccine supply chains through investments including in GAVI The Vaccine Alliance, as well as manufacturers in South Africa, Senegal, and India. The agency is committed to continue investing in healthcare and health resilience across the developing world.
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The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.