New Delhi: Novavax Inc said on Wednesday it has entered a supply and license agreement with the Serum Institute of India for the development and commercialization of its COVID-19 vaccine candidate.

The Indian drugmaker will have exclusive rights for the vaccine in India during the term of the deal and non-exclusive rights during the "Pandemic Period" in all countries other than those designated by the World Bank as upper-middle or high-income countries.

The deal was signed on July 30, according to an SEC filing by Novavax.

On Tuesday, Novavax reported that its experimental COVID-19 vaccine produced high levels of antibodies against the novel coronavirus in a small, early-stage clinical trial, and that it could start a large pivotal Phase III trial as soon as late September.

Meanwhile, Serum Institute of India, the world's largest vaccine manufacturer by volume, has partnered with biopharmaceutical company AstraZeneca to manufacture the experimental COVID-19 vaccine developed by the University of Oxford.

The Drugs Controller General of India (DCGI) has given nod to the Serum Institute of India (SII) for conducting phase 2 and 3 human clinical trials of a COVID-19 vaccine candidate, developed by the University of Oxford, in the country.

Currently, phase 2 and 3 clinical trials of the Oxford vaccine candidate are going on in the United Kingdom, phase 3 clinical trials in Brazil and phase 1 and 2 clinical trials in South Africa.

The SII, which has partnered with AstraZeneca, for manufacturing the Oxford vaccine candidate for COVID-19 had submitted its first application to the DCGI on July 25 seeking permission for conducting the phase 2 and 3 trials of the potential vaccine.