Ocugen Inks US Development Pact For Its Intranasal COVID-19 Vaccine - Ocugen (NASDAQ:OCGN)

Ocugen Inc OCGN has entered into an exclusive license agreement with Washington University to develop, manufacture and commercialize its intranasally delivered COVID-19 vaccine in the U.S., Europe, and Japan.
This vaccine is already authorized for emergency use in India and is essential to Ocugen's COVID-19 vaccine portfolio.
Related: Ocugen's Partner COVID-19 Vaccine Covaxin Shows Encouraging Action In Children Below 18 Years.
"Washington University's COVID-19 nasal vaccine technology has been shown to induce strong mucosal immunity with the potential to reduce SARS-CoV-2 infection, transmission, and the emergence of new variants," said Dr. Shankar Musunuri, Chairman, Chief Executive Officer, and Co-Founder of Ocugen.
Ocugen's intranasal vaccine candidate is a recombinant, replication-deficient, adenovirus-vectored vaccine with a prefusion-stabilized spike protein.
Ocugen intends to work closely with U.S. government agencies tasked with pandemic preparedness and response to initiate clinical trials, manufacture the intranasal vaccine, and pursue funding and investment options.
Price Action: OCGN shares are up 12.9% at $2.06 on the last check Wednesday.