Date:01/12/2005 URL: http://www.thehindubusinessline.com/2005/12/01/stories/2005120102220300.htm

Back IICT in pact with Swiss biotech co

Our Bureau

Hyderabad , Nov. 30

THE Indian Institute of Chemical Technology (IICT) and Evolva, a Swiss biotech company, have signed an agreement to collaborate in medicinal chemistry and cell biology.

The tie-up will help the partners bring their strengths together in the discovery of drugs related to cancer and diabetes, Dr J. S. Yadav, Director of the IICT, and Mr Neil Goldsmith, Managing Director of Evolva, said on Wednesday.

The initial investment will be Rs 2 crore, with IICT setting up a top class facility to undertake research. The target is to develop at least two molecules, Mr Yadav and Mr Goldsmith told newspersons.

Under the agreement signed by the two chiefs, Evolva will depute a team of 20 scientists to work along with IICT's researchers in the latter's laboratories.

IICT is also hosting the 60th Annual Convention and International Seminar on `New Horizons in Lipids & Oleochemicals,' organised by the Southern Zone of the Oil Technologists Association of India.

The two-day meeting will begin on December 2. Dr Yadav and Mr R.B.N. Prasad, Convenor, said that an exhibition— Lipids Expo 2005, with 16 organisations participating, would also be up during the meet. The American Oil Chemists Society (AOCS), Japan Oil Chemists Society (JOCS) and Solvent Extractors Association of India are supporting the event.

The President of AOCS, Dr Michael J. Haas, and the President of JOCS, Prof. Kazuo Tajima, will address the seminar. About 350-400 delegates from India and abroad are expected to participate.