CMI India Pvt Ltd. is a wholly-owned subsidiary of Centers for Medical Innovation, Germany. Dr Arun Bhatt, former medical director of Novartis India, heads the Indian subsidiary.
To begin with, the German parent will invest $10 million in India. The Indian subsidiary will focus on clinical development of plant-based therapies for chronic diseases. Its activities would include plant cultivation, processing, clinical and pre-clinical development, manufacturing, research and development, and distribution.
The company has signed a joint development agreement with Zandu for financing phase 2 and phase 3 clinical trials for HP-200, an anti-Parkinson's drug.
CMI India is also holding talks with the Hyderabad-based Centre for Cellular and Molecular Biology (CCMB) for separate projects.
The Indian subsidiary will also forge development agreements with Indian ayurvedic companies for clinical developments.
also see : List of reports on CMI India