Rs 800 crore projects launched in Hyderabad's Genome Valley
Hyderabad : Telangana's Minister of Industries K.T. Rama Rao on Thursday inaugurated new projects worth Rs 800 crore in Genome Valley here.
The new projects include biosimilars manufacturing, advanced pharma and biotech R&D, formulation manufacturing and integrated turnkey lab spaces for high-tech research.
These projects of varied nature signify the large breadth of capabilities present in Genome Valley, which has emerged as Asia's largest high innovation and life sciences cluster, according to an official release.
The Hyderabad-based GeneSys Biologics, a specialty biotech company engaged in R&D of advanced biosimilars, announced the inauguration of their state-of-the-art biotechnology manufacturing facility in Genome Valley.
GeneSys plans to deploy around Rs 350 crores overall in their facility which will see a 10 to 20 fold increase in their output and lead to large scale direct employment opportunities for highly skilled workforce.
"Given the extraordinary strengths of Telangana in vaccines and pharmaceuticals, we have taken various initiatives focussed on accelerating biologics and biosimilars development as part of the Genome Valley 2.0 Vision," said the minister.
In another major boost to the Genome Valley cluster, the fastest growing Canadian generic drug manufacturer JAMP Pharma will be setting up its biggest center of excellence for R&D and manufacturing of export quality drug formulations and will invest around Rs 250 crores with generation of 2,000 direct jobs over the next 24 months.
Monsieur Louis Pilon, Global President and CEO of Jamp Pharma Corp, met the Minister, who assured him of complete support of the state authorities and requested him to consider scaling up Jamp Pharma's operations in Hyderabad.
Laxai Life Sciences, a Genome Valley based custom biotech and pharma R&D, also inaugurated its new 50,000 square feet facility in Genome Valley with state-of-the-art German R&D infrastructure, which will cater to development of novel small molecules, biologics and custom pharma services for US and European companies.
Foundation stone was also laid for Touchstone Square, an integrated and collaborative R&D park through proposed investment of Rs 150 crore.