Financial Daily from THE HINDU group of publications
Friday, Aug 13, 2004
Financial Daily from THE HINDU group of publications Friday, Aug 13, 2004 |
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Research & Development Nicholas Piramal sets up new R&D unit in Chennai Our Bureau
Chennai , Aug. 12 NICHOLAS Piramal India has set up a new research & development centre in Chennai that is to complement its partnership with the Anna University in the area of drug discovery. The new R&D unit in Chennai has invested Rs 10 crore in laboratory equipment, and will employ 24 scientists, said Dr Swati A. Piramal, Nicholas' Director of Strategic Alliances & Communications, today at a press conference. Nicholas plans to increase the number of scientists at its Chennai R&D centre to 40 during the course of the current financial year. Nicholas' partnership with the Anna University concentrates on research in the areas of cancer and anti-inflammatory compounds. The partnership has so far led to the discovery of four molecules by the Anna University that are being developed by Nicholas. The intellectual property generated out of the partnership is jointly held by the two entities, said Prof Arun Balakrishnan, Director of Anna University's Centre for Biotechnology. The Anna University does the basic research to discover compounds that could be used in the treatment of cancer and anti-inflammation. Subsequently, Nicholas develops the compounds by taking them through pre-clinical and clinical trials.
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