In a proud moment for India, Ocugen Inc and Bharat Biotech have announced a definitive agreement to co-develop, supply and commercialise Bharat Biotech's Covaxin. It will be an advanced stage whole-virion inactivated COVID-19 vaccine candidate for the US market, the companies said in a joint statement on Wednesday.
We are excited to announce the definitive agreement for the commercialization of COVAXIN™ in the US with @BharatBiotech and share in US commercialization profits. #COVAXIN received EUA approval in India in January. Read the release here: https://t.co/ptEtvTHm0P $OCGN #COVID19 pic.twitter.com/cEYpOvrOIT— Ocugen (@Ocugen) February 2, 2021
Pennsylvania-based Ocugen will have the rights to market the vaccine. Under the terms of the agreement, the company will be responsible for clinical development, regulatory approval (including Emergency Use Authorisation ) and commercialisation for the US market. On the other hand, Bharat Biotech will supply initial doses to be used in the US upon Ocugen's receipt of a EUA and support the technology transfer for manufacturing in the states. The US-firm would retain 45% of the profits and will share the profits from the sale of Covaxin in the US market with Bharat Biotech.
Bharat Biotech CMD Krishna Ella said that COVID-19 pandemic has affected humanity at large and Bharat Biotech's goal is to provide global access to the vaccines developed by them.
"The COVID-19 pandemic has affected humanity at large. As a company determined to protect global public health, it has always been important for us to develop vaccines for a global cause. Our goal for all vaccines developed at Bharat Biotech is to provide global access. Covaxin has generated excellent safety data with robust immune responses to multiple viral proteins that persist," he said, reported PTI.
Ocugen Chairman Shankar Musunuri said that evaluation of Covaxin has resulted in long-term persistence of immune responses to multiple viral proteins.
"The evaluation of Covaxin has resulted in several unique product characteristics including long-term persistence of immune responses to multiple viral proteins, as opposed to only the spike protein, and has demonstrated broad-spectrum neutralising capability with heterologous SARS-CoV-2 strains, thus potentially reducing or eliminating escape mutants," Ocugen Chairman Shankar Musunuri said.
On December 23, For the first time, the US-based biopharmaceutical firm Ocugen Inc and Bharat Biotech announced about the co-development of the latter's COVID-19 vaccine candidate, COVAXIN, for the United States' market. They signed a binding letter of intent to co-develop the vaccine.
(With PTI Inputs)