Financial Daily from THE HINDU group of publications
Saturday, Nov 05, 2005
Financial Daily from THE HINDU group of publications Saturday, Nov 05, 2005 |
|
|
|
|
|
|
|
Corporate
-
Outlook Actis Biologics seeks partners to fast-track drug development P.T. Jyothi Datta
Mumbai , Nov. 4 THE California-based Actis Biologics Inc, a bio-pharmaceutical company, is looking to fast-track product development in segments such as cancer and heart-related ailments through an innovative business model in India. The company is scouting for joint venture partners in the country for different products in its pipeline to speed up the process of drug development. The onus of development and commercialisation of different drugs would be with different companies, each partnering independently with Actis. Through this business strategy, Actis hopes to commercialise a drug, that is, bring it to market, in about three years, the Actis co-founder and Chairman, Mr Sanjeev Saxena, told Business Line. Drug development and commercialisation process is both capital-intensive and time-consuming, taking up to nine years. Tech platform: Having recently licensed the angiozyme technology, jointly developed by Sirna Therapeutics and Chiron, Actis expects this technology platform to power drug development in different segments. This technology helps block blood supply to cancer cells and the same method can be used for fat cells too, he said. While the terms of the agreement were not disclosed, he said the technology is being used in drugs that are in different stages of clinical development. One such drug is seen to be efficacious in the colorectal cancer and he expected the product to be in the market by 2007. The technology will be used for target-specific indications in cancers of the kidney, prostrate, lung and breast cancer, he said. Other products using the technology will be in segments such as obesity, neurology and eye-related illnesses, he said. The Actis product pipeline also includes three promising cancer products: IL21, MSP36 and mutated IGFBP3, he said. The company is looking for independent collaborations with Indian companies or entrepreneurs for the development and marketing of each of these products in India and abroad. Actis is talking to pharma companies and expects to formalise the deal shortly, he said. Actis is also looking to enter into joint ventures with entrepreneurs in India in the biotech segment. Of the about 110 biotech companies in the country, about 75 per cent are in agriculture and 20 per cent are into contract research. Less than five per cent of the companies are interested in bringing new drugs into the market, he said. Actis will help seed these biotech companies, he added. Unwilling to divulge financials, he said that the initiatives were privately financed.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
