Bharat Biotech said on Tuesday, 22 December, that American biopharmaceutical firm Ocugen has signed a binding letter of intent (LoI) with the Hyderabad-based company to develop Covaxin for the US market.
The LoI states that Ocugen will have the US rights to the vaccine and will be responsible for “clinical development, registration, and commercialisation” of the vaccine with Bharat Biotech, The Indian Express reported.
In its statement, Bharat Biotech said, “The companies have begun collaborating and will finalise details of the definitive agreement in the next few weeks. This collaboration leverages Ocugen’s vaccine expertise, and its R&D and regulatory capabilities in the US.”
Ocugen has also convened a ‘Vaccine Scientific Advisory Board’ to administer over the clinical and regulatory path to approval in the US market.
David Fajgenbaum, a member of Ocugen’s Vaccine Scientific Advisory Board says, “Vaccines such as Covaxin that can potentially elicit a broad immune response and may limit future COVID-19 severity could be important to have in our arsenal.”
Dr Krishna Ella, Chairman and Managing Director of Bharat Biotech, said in a statement, “The development and clinical evaluation of Covaxin marks a significant milestone for vaccinology in India. Covaxin has garnered interest from several countries worldwide for supplies and introduction, and we are excited to collaborate with Ocugen to bring it to the US market.”
(inputs from The Indian Express)
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