‘Promising safety’ spurs decision
U.S. biopharmaceutical firm Ocugen and Bharat Biotech have signed a binding letter of intent (LOI) to co-develop India’s COVID-19 vaccine candidate Covaxin for the United States market.
The decision comes amid the ongoing Phase III clinical trials for Covaxin in India and the “promising safety and immunogenicity data” that emerged from the Phase I and Phase II.
The companies have begun collaborating and will finalise details of the definitive agreement in the next few weeks, they said in a joint statement on Tuesday.
Ocugen will get U.S. rights to the vaccine candidate and with Bharat Biotech, it will be responsible for clinical development, registration and commercialisation for the U.S. market. The collaboration seeks to leverage Ocugen’s vaccine expertise as well as its research and development capabilities and regulatory compliance rigour in the U.S. Earlier in the day, Bharat Biotech, which is developing Covaxin with Indian Co
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