[12] In 2016, with support from US-based Mass Biologics of University of Massachusetts Medical School, the Serum Institute of India invented a fast-acting anti-rabies agent, Rabies Human Monoclonal Antibody (RMAb), also known as Rabbishield.

[16][17][18] Serum Institute of India partnered with the British-Swedish multinational pharmaceutical company AstraZeneca for developing AZD1222 (Covishield) in partnership with the University of Oxford.

[24] In September 2020, trials were halted by DCGI after a volunteer in Oxford developed illness following vaccination, but were soon resumed after consent by the British regulators.

[35] The company also manufactured Sputnik V vaccine in India in collaboration with Gamaleya Research Institute of Epidemiology and Microbiology after receiving approval from DCGI.

[37] In March 2021, Reuters reported that Chinese state-backed cyber-espionage group Red Apollo targeted the Serum Institute of India's intellectual property for exfiltration.

[39] The vaccine, jointly developed by The University of Oxford[40][41] and the Serum Institute of India in collaboration with Novavax's adjuvant technology, demonstrated notable efficacy along with a positive safety profile.