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Hester Biosciences Ltd. on Wednesday announced that it has acquired the technology for the development and commercialisation of the low pathogenic avian influenza (H9N2 strain) inactivated vaccine for poultry.

The company has signed an agreement with the Indian Council of Agricultural Research - National Institute of High Security Animal Diseases (ICAR-NIHSAD) on Tuesday for receiving the indigenously developed technology.

Until date, India had no vaccine available for Avian Influenza despite periodic outbreaks across the country. This makes the vaccine have significant commercial potential, according to the company.

Hester said that the indigenously developed inactivated H9N2 vaccine for poultry is developed using a local isolate, thereby ensuring that the vaccine is made from the local strain and not by importing any exotic strain.

The company plans to launch the vaccine by the end of 2023 after completing the required field studies and obtaining regulatory approvals. Besides supplying the vaccine within India, Hester intends to export it to African and Asian countries through its own distribution network.

Low Pathogenic Avian Influenza H9N2 Strain causes comorbidity in poultry flocks throughout the year, leading to huge economic losses to poultry farmers. The disease generally has a low mortality rate (up to 6 percent), but can increase significantly in the presence of other infections. It could also lead to an irreversible egg production drop (up to 50 percent) in layer birds and a performance loss in broilers.

Shares of Hester Biosciences are trading 1.8 percent higher at Rs 1,836.20. The stock is down 28 percent for the year.