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Indo-US venture to launch cancer detection tools
Our Bureau
Bangalore
,
Feb. 16
GENETICS Specialties P Ltd, a new Indo-US venture in cancer diagnostic tool kits, was launched in Bangalore on Wednesday.It will introduce a range of genetic diagnostic kits and reagents to diagnostic labs and medical research institutions across the country, said Dr Raju S. K. Chaganti, Founder and Chairman of the board of directors of Cancer Genetics Inc, US.
Cancer Genetics has developed several genetic diagnostic probes (called `FISH' probes) that are used to detect cancer cells, and internationally markets 48 of them. It holds a 51 per cent stake in the Bangalore company, headed by Mr Ramesh Shah. According to Dr Chaganti, the FISH probe has become the gold standard for diagnosis and prognosis of cancer and India is catching up with this global trend.
Genetics Specialties will launch 140 new probes into the Indian market that is expected to grow at 10 per cent over the next two years, said Mr Peter Hartmayer, Executive Vice President- Marketing & Sales, Cancer Genetics. The FISH probe market alone is valued at $1.6 million and growing at 58 per cent a year, in tune with the worldwide market of $130 million.
Genetics Specialties' future plans include manufacturing reagents in the country after a few years. Apart from cancer detection tools, its products will cover infectious diseases such as TB; monitoring of birth defects and pre-natal wellness and probes related to genetic abnormalities, Dr Chaganti said.
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