Hester Biosciences spurts on collaborating with IIT Guwahati for COVID-19 vaccine

Hester Biosciences hit an upper circuit limit of 20% at Rs 1,366.90 after the company said it collaborated with IIT Guwahati to develop vaccine against COVID-19.

Hester Biosciences announced that it is collaborating with Indian Institute of Technology (IIT) Guwahati to work on the vaccine development against COVID-19. The agreement between the two parties was signed on 15 April 2020.

The vaccine will be based on recombinant avian paramyxovirus based vector platform. The avion paramyxovirus-1 has been explored as a vaccine vector for various animals and human pathogens. The avion paramyxovirus-1 has been used to express the immunogenic protein of human pathogens such as HIV, avion influenza virus, human parainfluenza virus, SARS-CoV. Similarly, it has also been explored as a vaccine vector for animal pathogens such as infectious bursal disease virus, infectious laryngotracheitis virus, bovine herpes virus, Nipah virus etc.

IIT Guwahati and Hester Biosciences expect the vaccine to be ready by the end of this year to start animal studies. The work is currently in its early stage of development.

Commenting on the vaccine development, Dr. Sachin Kumar, the associate professor of Department of Biosciences and Bioengineering in IIT Guwahati, says that, "It is too early to comment on the efficacy and immunogenicity of the vaccine, however, we will be able to reveal more details about this vaccine after the results of animal studies are obtained."

Meanwhile, the company said that Chetas Patel will replace Sahil Shah as a chief financial officer (KMP) of the company with effect from 29 April 2020.

Hester Biosciences' consolidated net profit dropped 10% to Rs 11.52 crore on a 10.8% jump in net sales to Rs 50.69 crore in Q3 December 2019 over Q3 December 2018.

Hester Biosciences is engaged in manufacturing of poultry vaccines and large animal vaccines, and trading of poultry health products and large animal health products. Its segments include poultry division and large animal division.

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