Biotech Invest meet to attract 26 firms from overseas countries

Hyderabad: Over 26 companies from different countries like the US, Germany, the UK, Israel, Japan, Australia and Korea besides India are keen to take part in the interactive session of the three-day Biotech Invest 2003, a global meet on strategic alliances and business opportunities, to be held here. The meet will commence on 31 January and will continue till 2 February 2003.

These foreign companies are engaged in the fields of lipid based anti-cancer patented drugs, stem cells, vitamin D analogues for drug discovery, bioinformatics, application of biotechnology research for humanitarian purposes and other human and animal health segments. One of the leading organisations of the US in the area of IPR is also expected to participate in the conference.

Disclosing this to media and addressing a press meet, Dr B S Bajaj, the president of All India Biotech Association’s (AIBA) southern chapter, informed that the event is jointly organised by the Federation of Andhra Pradesh Chamber of Commerce and Industry (FAPCCI) and AIBA- Southern Chapter. Genome Valley, the biotech hub of Andhra Pradesh, is the principle sponsor and Ernst & Young is the sponsor of the event.

According to Bajaj, the three-day event is organised in two parts, namely International Conference on Investment Opportunities in Biotechnology and International Interactive Meet for Alliances in Biotechnology. The forenoon of the each day will be devoted to the conference sessions and afternoons for the interactive meets.

The forenoon sessions will focus on investment opportunities in the bio-pharmaceutical industry in India, especially in Andhra Pradesh. Further, it aims at encouraging entrepreneurs, venture capitalists, financial institutions and other investors to invest in the biotech sector in India, and facilitating global strategic alliances.

The objective of the interactive meet is to facilitate global collaborations and alliances in research and development, licensing, strategic alliances, joint ventures, wholly-owned subsidiaries, outsourcing of biotech technologies and products.