Aurobindo Pharma working on COVID-19 vaccine; shortlisted for BIRAC funding
Hyderabad: Aurobindo Pharma Limited is working on developing several viral vaccines including one for COVID-19. The candidate has been approved for funding by the Department of BioTechnology. Aurobindo Pharma has given this information in its latest annual report.
'During the year (FY20), we have further strengthened our presence in the vaccines segment. We have done so through the acquisition of R&D assets from 'Profectus Biosciences' through 'Auro Vaccines'. Using those R&D assets, the team is working on developing several viral vaccines. Among them is a vaccine for COVID-19,' the report said.
In November 2019, Aurobindo Pharma said its subsidiary Auro Vaccines LLC entered into a pact to acquire certain business assets from Profectus BioSciences Inc USA. The deal was done for an upfront cash consideration of USD 11.29 million (around Rs 80 crore) with potential earn-outs on achieving certain milestones.
'Our vaccine candidate underwent an evaluation by BIRAC (Biotechnology Industry Research Assistance Council, Department of BioTechnology). BIRAC has evaluated our platform extensively. We have been informed that our vaccine has been shortlisted by BIRAC for funding initial development up,' Aurobindo Pharma informed.
The company is developing Pneumococcal Conjugate Vaccine (PCV) for COVID-19. The global market size of the product is USD 6.2 billion. The company has successfully completed the Phase-I and Phase II studies for its vaccine. Phase-III clinical study is expected to be initiated by December 2020.
The final product would be launched by the end of FY22, Aurobindo Pharma said. 'The acquisition (of Profectus BioSciences) will also lead to the enhancement of our R&D capabilities and expertise in developing new vaccines from basic discovery to FDA approved products. As part of our commitment to patient needs, we have started working on developing a vaccine for COVID-19,' the report said.
Aurobindo is setting up manufacturing facilities for orals in China, injectables and other routes of administration like patches, topicals, inhalers, among others in India and in the USA.
The COVID-19 pandemic impacted select business segments like generic injectables due to a decline in in-patient volumes and out-patient footfalls in the hospitals during the last fiscal. However, the muted growth was offset by volume improvement in other businesses, Aurobindo Pharma said.Suggest A Correction
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