The Hindu Business Line : 10 MoUs signed at BioAsia meet

AT the end of the three days of sessions and exhibits, BioAsia 2004, billed as the largest biotechnology summit in the country, came to a close last week with the announcement of 10 memoranda of understanding. The summit drew over 500 participants from 25 countries.

According to the Andhra Pradesh State Secretary for Industries and Commerce, Mr B.P. Acharya, a total number of 46 one-to-one meetings were arranged during the summit for exploring the possibility of alliances between companies and individuals from abroad and India.

"As a result of 46 one-to-one meetings for alliances, 10 MoUs were signed. Another four letters of intent were also presented due to paucity of time. The formal agreements would follow soon," the Secretary said.

The notable among these MoUs were those between the Hyderabad-based Suven Life Sciences and the US-based Tranzyme Inc, Transgene Biotek and US-based Genom International, AVRA Laboratories and US-based KARD Scientific, Chennai-based Memory Plus Biopharma and the Singapore-based TCM Wellness Investment, Hyderabad-based Biological E and Pakistan-based AMSON Vaccines and Pharmaceuticals, Transgene Biotek and Pakistan-based Dr S. Uzair-Ul-Ghani, Hyderabad-based Sipra Labs and the US-based KARD Scientific.

An MoU was signed between the National Science Foundation of Sri Lanka and Genome Valley for co-operation in the field of biotechnology, facilitating the applications of biotechnology for industrial development in both countries.

The All-India Biotech Association has signed an MoU with the Sri Lanka-based National Science Foundation and the US-based Biotechnology Association of Alabama for collaboration in exchange of information, investment, trade, social and economic cooperation in the field of biotechnology and for organising and participating national and international seminars and exhibitions.

Speaking to newspersons here, Mr Acharya said the summit was considered a success based on the quality of speakers, delegates and exhibits, business discussions and initiations, quality representation from across the globe, and sharing of knowledge.

"We are delighted with the quality of business opportunities that BioAsia 2004 has been able to create. The quality of representation from the biotech industry, speakers, delegates and exhibits has been extremely encouraging. The fact that BioAsia 2004 was able to provide a platform for these representatives to interact, share knowledge and explore growth opportunities has been very satisfying," Mr Acharya said.

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