Biocon Biologics, a Biocon subsidiary, has said it'll offer around 15% stake to Serum Institute Life Sciences, a Serum Institute of India (SII) subsidiary, at a post-money valuation of $4.9 billion. In return, Biocon will get committed access to 100 million vaccine doses per annum for 15 years. SII CEO Adar Poonawalla will have a Board seat in Biocon Biologics.