The vaccine was jointly developed by CanSino and the Beijing Institute of Biotechnology, part of the Academy of Military Medical Sciences.
Bharat Biotech's Covid vaccine candidate Covaxin is set to undergo human clinical trials in July.More news: Steve Doocy: Trump Should Wear a Mask
According to a CanSino statement, clinical trials of the new vaccine have shown a "good safety profile" with initial results indicating that Ad5-nCoV had potential to prevent diseases caused by SARS-CoV-2, the coronavirus strain that causes Covid-19. "Expedited through national regulatory protocols, the company accelerated its objective in completing the comprehensive pre-clinical studies", he added.Ella said inactivated viruses have proven safety records and Bharat Biotech has expertise in vero cell culture vaccine manufacturing platform as it has already manufactured rabies, polio, Japanese Encephalitis and Rotavirus vaccines.
The collaboration with the Indian Council of Medical Research (ICMR)-National Institute of Virology (NIV) was instrumental in the development of the vaccine, Chairman and Managing Director Krishna Ella said on Monday.
For comparison purposes with the FDA's goal for a coronavirus vaccine, the effectiveness of the seasonal flu vaccine ranges from 40 to 60 percent when the vaccine is similar to circulating flu viruses, according to the Centers for Disease Control and Prevention.More news: Trump posts video of couple brandishing guns towards protesters
The company says that the formula; known as Ad5-nCoV, is now limited to use by military personnel, and can not be offered to a broader population without the approval of the Logistics Support Department, the division of the Central Military Commission which approved the military use of the vaccine.
The two trials are created to test whether the vaccine is safe, rather than whether it is effective. However, all of them are in pre-clinical stage as of now.More news: Facebook ad boycott campaign to go global
Globally, AstraZeneca's vaccine followed by Moderna's are in the lead with the latter scheduled to conduct Phase III trials from mid-July. Since January, J&J has been working directly with governments and health authorities to help end this fast-moving COVID-19 pandemic. 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.