Finoso Pharma, Criti Tech form joint venture

Our Bureau Hyderabad | Updated on July 12, 2012 Published on July 12, 2012

Tech expertise: (From left) Dr David Johnston, CEO, Criti Tech, exchanging a joint venture memorandum of understanding with Dr K. Kumar, MD, Finoso Pharma, in Hyderabad on Thursday. Also seen is Dr Bala Subramaniam,lead inventor of Criti Tech. — P.V. Sivakumar   -  Business Line

Finoso Pharma Pvt Ltd and the US-based Criti Tech Inc have formed a joint venture — Finotech Pharma.

The 50-50 joint venture would work on providing advanced technology for designing extremely small particles required in drug-making.

“Our experience in dossier-filing for the last three years and Criti Tech expertise in technology will provide strategic opportunity for both parties, Dr K. Kumar, Managing Director, Finoso Pharma, said.

Three key customers were already identified for Fenotech and it would scout for more customers in the domestic and foreign markets, he added.

The Hyderabad-based Finoso, which had a turnover of about Rs 5 crore last year, has contributed its existing facility and 30 employees to the joint venture.

Dr David Johnston, Chief Executive Officer, Criti Tech, said the investment in the joint venture could be around one to two million dollars.

The therapeutic areas to be focussed by Finotech Pharma would be oncology and lung diseases, among others.

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Published on July 12, 2012
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