New Delhi, Sep 16 (IANS): The Russian Direct Investment Fund (RDIF) and Dr Reddy's Laboratories Limited, a global pharmaceutical company headquartered in India, have agreed to cooperate on clinical trials and distribution of Sputnik V Covid-19 vaccine in India, Russia's sovereign wealth fund revealed in a statement on Wednesday.

Sputnik V, an adenovirus vector-based vaccine, was developed by the Gamaleya Scientific Research Institute of Epidemiology and Microbiology, along with the Russian Direct Investment Fund and registered on August 11.

"On regulatory approval in India, RDIF shall supply to Dr Reddy's 100 million doses of the vaccine. The Sputnik V vaccine, which is based on well-studied human adenoviral vector platform with proven safety, is undergoing clinical trials for the coronavirus pandemic," said a statement from the fund.

The Russian Direct Investment Fund said that the deliveries could potentially begin in late 2020 subject to completion of successful trials and registration of the vaccine by regulatory authorities in India.

"The agreement between RDIF and Dr Reddy's reflects the growing awareness of countries and organisations to have a diversified anti-COVID vaccine portfolio to protect their populations," RDIF added.

Earlier this month, NITI Aayog member, Dr V.K. Paul, had said that the Russian government has sought India's help in manufacturing the Sputnik V vaccine and also to conduct Phase-3 trials or bridging studies in the country.

Addressing a press conference on Tuesday, ICMR Director General Balram Bhargava also said, "Russia has a good history of vaccine manufacturing hence we assume that this vaccine is also good. There is a dialogue going on between the high-level committees of the governments of India and Russia. We are trying to work out its mechanism."