Megalab Acquires Rs300-cr Seed Fund to Develop Ayurvedic-based Covid Vaccine, Health News, ET Health World

Founded by the IIT Alumni Association, Megalab is a double-dose Ayurvedic-based corona that can secure seed funding of 30 billion rupees, stop the spread of deadly viruses, and prevent infection within days of the first dose. We are developing a virus vaccine.

Mumbai-based Megalab, founded by Congress last April to promote the fight against pandemics with ideas and funding, imports available vaccines from the West, first distributes them in Mumbai, and then the alumni association. It will be distributed to the chairman, Ravi Sharma. Said on Thursday.

Seed funding, according to Sharma, is part of an emergency fund in a social fund, the council’s funding arm, which raised rupees 21,000, announced last April at the peak of the first wave of the pandemic. Form a part.

He said the proposed vaccine, which will be on sale for the next six months, is an Ayurvedic-based adjuvant vaccine that has both injectable and nasal variants, improving efficacy and reducing side effects. , Said that it is expected to work all over. A variant of the virus that has already killed more than 26,000 people in the country.

Regarding plans to import the vaccine, he said the move follows the US abandonment of the US support patent for the Covid vaccine and should begin within two weeks for distribution in Mumbai.

He further stated that the proposed vaccine was the first self-limiting, locally produced, antigen-free new vaccine, the discussion of which has already taken place with pharmaceutical companies and is based on unique technology. It was.

The ultimate goal is to provide a continuously upgradeable vaccine that can surpass the virus and help end the pandemic, Sharma said.

Imported vaccines are initially sold at prices comparable to those in the United States and are delivered to the office or home via a specially modified bus.

According to Sharma, the new vaccine initiative will be led by Dr. Allindam Boz, a Connecticut-based biotechnology industry sort leader, chair of the Covid-19 Task Force’s treatment group, and senior advisor to Megalab’s Indian Vaccine Stack. It is said to be leading. Bose previously headed the vaccine development division of global pharmaceutical giant Pfizer, but Dr. Shanta Ramkane, a graduate of IIT Bombay and a PhD in MIT, said the Indian vaccine stack’s injectable adjuvant and oral / nasal spray. Leads the nasal spray component.

Megalab is discussing with partners such as Krsnaa Diagnostics, Kodoy, Koteleo, Platinae and Brew to divert the technology, laboratories and human resources available to accelerate vaccine development and delivery, Sharma said. Says.

The IIT Alumni Association is the largest global alumni association across all 23 IITs and partner institutions of the Indian Innovation Network. The council is currently actively working to resolve the Corona crisis, with more than 20,000 graduates participating and forming the Covid Task Force with the University of Mumbai and ICT Mumbai as organizational partners.

Megalab Acquires Rs300-cr Seed Fund to Develop Ayurvedic-based Covid Vaccine, Health News, ET Health World

Source link Megalab Acquires Rs300-cr Seed Fund to Develop Ayurvedic-based Covid Vaccine, Health News, ET Health World

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