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.
The 50% threshold is a gauge similar to the one used to measure the effectiveness of typical flu vaccines, said Harvard's public health immunologist and professor Barry Bloom.
The hospital posted a recruiting announcement on its account on WeChat, a social media platform, on June 24. Whether a vaccine receives full FDA approval or Emergency Use Authorization, the data has to show that it works.
Announcing the vaccine development milestone, Dr Krishna Ella, Chairman and Managing Director said: "We are proud to announce COVAXIN, India's first indigenous vaccine against COVID-19".
CanSino declined to disclose whether the inoculation of the vaccine candidate is mandatory or optional, citing commercial secrets, in an email to Reuters.
According to media reports, the Hyderabad-based vaccine manufacturer, Bharat Biotech, has been accorded permission by the Drug Controller General of India (DCGI) to initiate Phase I & II human clinical trials for India's first vaccine candidate against COVID-19. On vaccines, he said several candidates are being studied and "hopefully there will be doses available by the beginning of next year".
Shots will not be able to get approval if studies only show that they lead to the development of antibodies in the bloodstream, which is not proof that the vaccine can actually prevent coronavirus infection.
A vaccine would see potential profits for the medical and science industry, makers of medicine and researchers. There are more than a dozen vaccines from over 100 companies globally are in different stages of vaccine development.
This is the CanSino Biologics-Beijing Institute of Biotechnology product using the "non-replicating viral vector" design.
Germany and the United States are also leading candidates, with the latter boasting the largest number of vaccine-related projects.
The US Food and Drug Administration plans to release guidance on Tuesday outlining its conditions for approving a vaccine for the coronavirus, the Wall Street Journal reported, citing a summary of the guidance.