Results from these studies have been promising and show extensive safety and effective immune responses, the release added.
The Chairman and Managing Director of the Bharat Biotech, Dr Krishna Ella said with strong support from the consortia partners and Government, the entire development process was accelerated through national regulatory protocols. "We worked tirelessly to deploy our proprietary technologies towards this platform".
Bharat Biotech is also in the process of developing CoroFlu - a nasal vaccine for COVID-19 - in collaboration with virologists at University of Wisconsin-Madison and vaccine company FluGen. It is an inactivated vaccine created from a strain of the infectious SARS-CoV-2 virus.
Other Indian firms working on COVID-19 vaccines include Zydus Cadila, Serum Institute of India, and Panacea Biotec.
Once the trial starts, the effectiveness of the vaccine in generating a safe immune response will be assessed in dozens of healthy human volunteers. He said they had been rushing to create a vaccine and are at the point where it has been tested on animals and is now in its second human trial in the United Kingdom where 6000 people have been given the COVID-19 vaccine and 6000 a dead vaccine.
In the past, vaccine maker Bharat Biotech has manufactured the H1N1 vaccine during the swine flu outbreak, and has over 140 global patents and 16 vaccines in its portfolio.
The company's Ad5-nCoV vaccine candidate has also won approval in human testing in Canada.
After that, depending on the results, the candidate will move into Phase-3.
Pune-based Serum Institute of India, the world's largest vaccine maker by number of doses produced and sold globally, has also partnered to mass produce a vaccine being developed by the University of Oxford and backed by the United Kingdom government. Yet, a cure for COVID-19 has not been found.
With 18,522 new coronavirus cases registered over the past 24 hours, India's nationwide tally on Tuesday morning topped 566,800, according to the Health Ministry data. The number of COVID-19 cases in India now stands at 5,66,840 and counting.