Date:01/12/2005 URL: http://www.thehindu.com/2005/12/01/stories/2005120105870600.htm

Andhra Pradesh

IICT signs pact with Swiss firm on drugs research

Special Correspondent

HYDERABAD: The Indian Institute of Chemical Technology (IICT) here and Switzerland-based Evolva, a leading biotechnology drug discovery company, on Wednesday signed a five-year agreement to collaborate in medicinal chemistry and cell biology.

Discovery of drugs

J. S.Yadav, IICT Director, and Neil Goldsmith, Managing Director, Evolva, who signed the agreement, told presspersons later that the collaboration would help both the parties to excel in discovery of drugs related to cancer and diabetes. The initial investment would be Rs. 2 crores.

20 Swiss biologists

The Andhra Pradesh Industrial Development Corporation (APIDC) venture capital-funded Evolva would depute 20 Swiss biologists to work in the state-of-the-art testing facility to be established in IICT. They would work with chemists of the institute to create at least two molecules. Initially a skeletal staff would come from Switzerland, Dr. Yadav and Mr. Goldsmith said.

Annual convention

Dr. Yadav and R.B.N. Prasad, convener, said the two-day 60th annual convention of the Oil Technologists' Association of India, southern zone, would be begin at IICT on December 2.

They said over 350 delegates from within the country and abroad would attend the seminar to be inaugurated by Mahtab S. Bamji, former director of the National Institute of Nutrition. F.D. Gunstone, one of the world's renowned lipid scientists, would deliver the Dr. K. T. Acharya Memorial Lecture on December 3 on "Oleochemicals: past, present and future."

Seven annual merit awards will be presented, six of them to the lipid science and technology division of IICT.