Hester to get Rs 60 cr grant from BIRAC

Hester Biosciences on Thursday said it will receive a Rs 60-crore grant from Biotechnology Industry Research Assistance Council (BIRAC) to support Covid-19 vaccine manufacturing.

“The company’s board has approved execution of grant-in-aid letter agreement for a grant of Rs 60 crore (in phased manner) to the drug maker by BIRAC under Mission Covid Suraksha,” Hester Biosciences said in a regulatory filing.

Last year, a Memorandum of Understanding was inked between Bharat Biotech and Gujarat Covid Vaccine Consortium (GCVC) for the production of Covaxin.

GCVC comprises Gujarat Biotechnology Research Centre, Hester Biosciences and OmniBRx Biotechnologies. PTI