IIT's MegaLab to Manufacture Indigenous 4th Generation Covid Vax

IIT Alumni Council-founded Megalab announced plans to manufacture 200 million doses per month of indigenous fourth generation vaccines. The India Vaccine Stack initiative that has been launched has initiated the next round of funding of Rs 700 crores from Venture capital/Private equity and social funds.

Over 200 million doses per month of indigenous fourth generation vaccines are gonna be manufactured and delivered by the IIT Alumni Council-founded Megalab, which will compete directly with global players in the world market.

The //Mumbai-based Megalab, set up last April by the council to drive the fight against the pandemic with ideas and money, said that existing indigenous capacity will be adequate to meet world demand after repurposing and addition of balancing equipment.

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‘The India Vaccine Stack initiative that has been launched has initiated the next round of funding of Rs 700 crores from Venture capital/ Private equity and social funds.’

"We have received enormous support from eminent Indian scientists and academicians of global repute, leading industry players including contract manufacturers and clinical trial experts, global equipment suppliers and design firms and startups engaged across the supply chain. We are very hopeful of catalyzing the availability of a fourth generation vaccine at much reduced prices," said Ravi Sharma, President of the IIT Alumni Council, in a statement.

"We also expect to backward integrate quickly so as to create a robust foundation for RNA based prophylactics and therapeutics for a wide range of diseases. This will strongly complement our Biologics work in the area of monoclonal antibodies," Sharma added.

MegaLab also added that new cold chain infrastructure needs to be developed speedily to handle requirements for nationwide delivery of the vaccine.

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Further, another initiative by the IIT Alumni Council -- Mega Incubator -- will create a Rs 75 crore sub-fund to support startup's involved in indigenous raw materials for vaccines.

The India Vaccine Stack initiative, launched on Tuesday, has initiated the next round of funding of Rs 700 crores from Venture capital/ Private equity and social funds.

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Source-IANS