The Hindu Business Line : Actis Biologics to invest Rs 100 cr in India

ABPL is developing four different technology platforms and biotech products are expected within the next two to three years. Gets $1m grant from ICICI for project

Mumbai , July 17

The California-based bio-pharmaceutical company Actis Biologics Inc has drawn up a Rs 100-crore-plus investment plan in India through Actis Biologics Pvt Ltd (ABPL). The plan includes setting up research and manufacturing facilities here.

ABPL expects to have its research centre at Saki Naka, on the outer-fringes of Mumbai, at an estimated Rs 10-15 crore, said ABPL Chairman and Managing Director, Mr Sanjeev Saxena. The research centre should be operational by end-August or early-September, he told Business Line. The company expects to hire at least 50 scientists at the centre.

While part of the financial resources has come from Actis Inc, ABPL has got a grant of $1 million from ICICI for one of its projects using the recombinant technology. ICICI would get royalties at a later date, he added.

Driving ABPL from the top, Mr Saxena, Chairman-Actis Biologics Inc, has shifted base to Mumbai. Mr P.N. Venugopalan, former President of UB Group's Life Sciences Division is ABPL's President.

Actis Biologics Inc holds 30 per cent equity in ABPL, promoters hold another 35 per cent, Innovassynth Technologies holds 26 per cent and the rest is with private investors.

ABPL is developing four different technology platforms and biotech products are expected within the next two to three years. According to Mr Venugopalan, ABPL is in the process of setting up five subsidiary companies to commercialise these biotech products.

ABPL has acquired land at Khopoli, where it expects to set up manufacturing facilities to support products coming from the subsidiaries. The manufacturing plants are likely to be operational in 18 months, coinciding with the likely completion of human trials on ABPL's prospective drug molecules, Mr Saxena said.

Subsidiaries focus

Each one of the subsidiaries will focus on individual technology platforms to increase focus and productivity. And the company expects to bring down costs four-fold through this strategy.

One technology platform which has already gone through phase II trials in the US, and has shown efficacy in colorectal cancer, is expected to be launched post-phase III trials (in about 18 months) through its Oligonucleotide subsidiary. This technology is expected to have applications in various fields of medicine, including cancer, ocular diseases and obesity.

A third subsidiary is based on a gene therapy platform and the fourth subsidiary will focus on the development of vaccines for diseases such as AIDS, Hepatitis B and C and others. The fifth subsidiary will focus on clinical trials of the new molecules of the company, as well as that of it's US partners.

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