Manipal group launches molecule research center

By siliconindia staff writer   |   Wednesday, 19 January 2005, 20:30 IST
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BANGALORE: The city based Manipal group has started a biotech company for further research in the molecule cellular segment by launching a new company 'Manipal Acunova' in Bangalore. The company, according to its promoter and CEO D.A. Prasanna will focus on drug discovery and approvals. ‘As the job of drug discovery and research jobs shifts from west to east, we want to tap the opportunity’, he said adding it was natural for them to enter the segment as Manipal Hospitals is also into various clinical research in cancer, diabetes, geriatrics, hypertension among others. “Some of the US based biotech companies are looking at outsourcing clinical trials, drug discoveries, and research activities to Indian companies and we want to address this market segment,” ‘As Manipal Hospitals treat over 12 lakh patients a year, this gives us a great strength to study various kinds of diseases and genetic profile of various individuals, which is essential for clinical trials and drug discovery,” Prasanna said. To begin with, the company will focus on stem cell research, drug development for cancer and diabetes pre-clinical studies, clinical trials, clinical reference, clinical data management, volumetric imaging analysis for trials and contract research. Prasanna said if things go as planned; the company will go for an IPO in five years.