The Hindu : MoUs worth Rs. 100 cr. signed in `Biotech Invest-2003'

Online edition of India's National Newspaper
Monday, Feb 03, 2003

Southern States

Southern States - Andhra Pradesh-Hyderabad

MoUs worth Rs. 100 cr. signed in `Biotech Invest-2003'

By Our Staff Reporter

HYDERABAD Feb. 2. Eight Memorandum of Understandings (MoU) worth about Rs. 100 crores were signed between US, Korean and Indian biotechnology companies at the valedictory session of `Biotech Invest - 2003' here on Sunday in the presence of B. Gopala Krishna Reddy, Minister for Bio-Technology and Small-Scale Industries.

Five of these MoUs were signed by Indian companies and associations with Biotechnology International (BTI), a North Carolina-based consortium which attempts to bridge the US biotech, pharma and life science industries with the international market. The MoUs with BTI were signed by DRS Systems for Data Management of clinical trials, by Sipra for clinical trials and contract research, by Biowise Knowledge Services for placing students and software services in the US and with the All India Biotech Association (AIBA) for wide-ranging cooperation to facilitate entrepreneurship and research.

Nova Tera Foundation, USA, signed a MoU with Genotex International of Hyderabad for a project which involves Rs. 5 crores of technology transfer by the US company in areas of cancer, infectious and sexually transmitted diseases. Genotex would also be investing Rs. 5 crores in this project which foresees a total capital outlay of Rs. 50 crores.

EFS Systems US and Shantha Biotechnics signed a general MoU for collaboration in business and research of current medicines for new therapies. EFS will also license its technology. Civenti Chem, US and Otira Pharmaceuticals signed an MoU which foresees Civenti marketing Otira manufactured drugs in the US market and also jointly develop new `intermediaries'. Best Korea, a Seoul-based company signed a MoU with Indo Systems International for constructing and running a joint production facility for fermenter and bioreactors.

Giving details of these agreements to the press, Chandrasekhar Reddy of the AP Industrial Development Corporation said that another five MoU are expected to be signed in the coming weeks as a result of the discussions and contacts made during this meet. He also said that this would be made into an annual event with a focus on getting MoUs signed by as many participants as possible.

Organised jointly by AIBA and the Federation of AP Chambers of Commerce and Industries and sponsored by the Shapoorji Pallonji Biotech Park, the three-day event was attended by entrepreneurs and representatives of 26 companies from the US, UK, Australia, Israel, South Korea and Canada. Scientists, research organisations, clinicians and students also participated in the deliberations. With a subtitle of "Strategic Alliances and Business Opportunities'' the conference was designed to facilitate collaboration and alliances between the delegates.

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