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Singapore's Pacific Holdings to set up facility in Hyderabad
Monday, 03 February 2003, 20:30 IST
HYDERABAD: Singapore-based Pacific Healthcare Holdings, a multi-disciplinary medical services firm, Friday said it would set up a hospital and biomedical research facility here with an investment of 
500 million.
The company, which has business interests in Singapore and Hong Kong, will focus on stem cell research in its proposed research lab, said William Chong, managing director of Pacific Holdings.
Pacific Holdings will make an initial investment of 250 million in the facility and another 250 million would be invested in the second phase, Chong told the Biotech Invest-2003 summit here.
Over 25 companies from countries such as the U.S, Britain, Germany and Australia are attending the Biotech Invest-2003, a three-day meet on business opportunities in biotechnology industry.
The event is being jointly organised by the All India Biotech Association and the Federation of Andhra Pradesh chambers of Commerce and Industry.
U.S.-based Genomik Design Pharmaceuticals Inc. also announced the setting up of its subsidiary in Hyderabad.
Genomik Design Pharmaceuticals, a San Diego-based start-up, will set up its local arm -- Genomik Design Pharmaceuticals Limited -- to develop computer aided drug discovery tools for discovery of novel drugs.
The subsidiary is being set up with an investment of 400 million. The Andhra Pradesh government's Biotechnology Venture Capital Fund has investment 200 million out of the total investment.
Source: IANS
500 million.
The company, which has business interests in Singapore and Hong Kong, will focus on stem cell research in its proposed research lab, said William Chong, managing director of Pacific Holdings.
Pacific Holdings will make an initial investment of 250 million in the facility and another 250 million would be invested in the second phase, Chong told the Biotech Invest-2003 summit here.
Over 25 companies from countries such as the U.S, Britain, Germany and Australia are attending the Biotech Invest-2003, a three-day meet on business opportunities in biotechnology industry.
The event is being jointly organised by the All India Biotech Association and the Federation of Andhra Pradesh chambers of Commerce and Industry.
U.S.-based Genomik Design Pharmaceuticals Inc. also announced the setting up of its subsidiary in Hyderabad.
Genomik Design Pharmaceuticals, a San Diego-based start-up, will set up its local arm -- Genomik Design Pharmaceuticals Limited -- to develop computer aided drug discovery tools for discovery of novel drugs.
The subsidiary is being set up with an investment of 400 million. The Andhra Pradesh government's Biotechnology Venture Capital Fund has investment 200 million out of the total investment.
Source: IANS