Hester Biosciences surges 20% after collaborating with IIT Guwahati

The agreement between the two parties was signed on April 15, 2020.

Apr 29, 2020 11:04 IST India Infoline News Service

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Indian Institute of Technology (IIT) Guwahati is collaborating with Hester Biosciences Limited, a pharmaceutical company based in Ahmedabad, Gujarat, to work on the vaccine development against COVID-19. The agreement between the two parties was signed on April 15, 2020.

Reacting to this news, the stock is currently trading at Rs1,366.90 up by Rs227.8 or 20% from its previous closing of Rs1,139.10 on the BSE.

The vaccine will be based on a recombinant avian paramyxovirus based vector platform. The recombinant avian paramyxovirus-1 will be used to express the immunogenic protein of SARS-CoV-2. The recombinant avian paramyxovirus-1 expressing the SARS-CoV-2 protein could be used as a vaccine candidate for further study.

The scrip opened at Rs1,191.95 and has touched a high and low of Rs1,366.90 and Rs1,150.25 respectively.

The avian paramyxovirus-1 has been explored as a vaccine vector for various animals and human pathogens. The avian paramyxovirus-1 has been used to express the immunogenic protein of human pathogens such as HIV, avian 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.

Rajiv Gandhi, CEO and MD, Hester Biosciences Limited, said, “In the current pandemic situation of COVID-19, the world is looking at developing preventive and curative measures to safeguard mankind. IITG & Hester have collaborated to develop and manufacture a recombinant vaccine against COVID-19 disease as a preventive measure. Hester’s involvement would be from master seed development up to release of the commercial vaccine”.

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