New Delhi, June 15: Panacea Biotec, the latest among Indian firms to enter the race for COVID-19 vaccine development, is targeting the launch of human trials in next few months. The company's CEO - Rajesh Jain, while speaking to reporters, said the phase 1 of human trials is likely to begin in October this year. Coronavirus Vaccine: AstraZeneca Awarded Deal to Supply Europe With 400 Million Doses by 2020-End.

If successful, the vaccine would be on course to roll-out 40-50 million doses in early 2021, Jain said. Panacea, which has signed a venture with the US-based pharmaceutical firm Refana, is authorised to manufacture and commercially distribute the vaccine in India.

The vaccine trials would be undertaken in several parts of the world, Jain said, adding that tests on humans may also be conducted in India. The potential vaccine is aimed at activating an immune response system in human bodies by producing neutralising antibodies against SARS-CoV-19 virus.

According to Panacea CEO, the vaccine being developed will be strong enough to create antibodies against all mutations of the COVID-19 virus. A presentation scrutinised by the company found that the vaccine, if successful, will be effective against all major strains SARS-CoV-2.

"In coming years, if SAR-CoV-2 mutates, the vaccine still provides protection," Jain told MoneyControl, adding that Panacea and Refana are firm to achieve the target of vaccine roll-out by January next year.

COVID-19 Vaccine Status: Moderna, Sinovac Biotech To Begin Phase 3 Trials

Across the world, a clutch of pharmaceutical firms have taken the lead in the race for COVID-19 vaccine. Moderna Inc, the top candidate in US to emerge with the vaccine, will initiate the third phase of trials next month.

Sinovac Biotech of China has also successfully completed its phase I and II of the trials and will undertake the final round of tests in Brazil.

The pharma firm which could be the first to roll-out the vaccine is UK's AstraZeneca, which has begin the production even before the final nod from the British frug regulator. The approval is expected in August, and the company is hopeful of vaccine roll-out by September.

(The above story first appeared on LatestLY on Jun 15, 2020 08:19 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).