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Stone laid for biotech park near Hyderabad
Our Bureau
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This is part of the Genome Valley that hosts a biotech cluster and comprises ICICI Knowledge Park and Shapoorji Pallonji Biotech Park.
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Hyderabad
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May 9
The Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, on Tuesday laid the foundation stone for Phase III of Biotech Park at Karakapatla in Medak district to come up in a 414-acre site.
The first two phases of the Shapoorji Pallonji Biotech Park spread over 400 acres have been completed and 23 biotech companies have commenced operations.
According to a statement from the Chief Minister's Office, this is part of the Genome Valley that hosts a biotech cluster and comprises ICICI Knowledge Park and Shapoorji Pallonji Biotech Park.
Fourteen international biotech companies have established operations in the cluster over the last one year and several others such as Nektar Therapeutics and United States Pharmacopoeia have decided to move in to the Genome Valley.
Albany Molecular Research Inc, Mithros Chemicals, Chanelle Pharmaceuticals and NND Biomedical Data Systems, are others to commence operations.
The Andhra Pradesh Industrial Development Corporation (APIDC) Venture Capital Ltd has launched Biotech focused Venture Capital Fund with a Seed Capital of Rs 10 crore. In pursuance of a MoU signed with ICRISAT, the State has set up an Agri-Science Park.
According to the CMO, AP is a strong contender for the Bio-IT Park proposed by Software Technology Parks of India. The State has tied up with Shapoorji Pallonji for locating the proposed Bio-IT Park in SP Biotech Park.
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