Press Release: Major delegation of Indian life sciences companies arrives in the UK, personalised chemotherapy collaboration announced
London, 10 May: Seeking to explore tie-ups in the UK’s life sciences sector, a major delegation of Indian life sciences and related companies are coming to London on 10th May,
Over the last three years, the Indian life sciences market has grown by 12% per annum. As the domestic market grows, Indian companies are growing more ambitious and looking outwards. Companies that started off in generics and biosimilars are increasingly focused on developing and marketing their own branded/originator drugs, and in expanding their reach into other major markets including the UK.
The nearly 20 companies are coming from India to explore tie-ups in the UK are attending the bioConclave, a leading conference whose mission is to showcase India’s diverse expertise in the life sciences and healthcare sectors with specific focus on research and development; biotech and pharma; new technologies and medical devices.
Invest India, the country’s sovereign inward investment agency, is attending to meet potential partners to invest into India.
It is being hosted by MedCity, which promotes the London-Oxford-Cambridge life sciences cluster globally, and supported by University College London and others.
Sakate Khaitan, Senior Partner at Khaitan Legal, said: “There is so much opportunity for the UK and India to be a partners of choice, and this investment is testament to the strong capabilities India is developing.”
Pratik Dattani, Managing Director of consultancy EPG and UK Director of Indian trade promotion agency FICCI, said: “London is a world-leader in raising capital, and Indian companies consider the UK as a springboard for expansion into Europe. It’s important forums such as these, which brings together organisations such as MedCity, One Nucleus, IIT Delhi, C-CAMP and Invest India, are promoted because as we’ve already seen, they provide a great platform for investment deals to be signed.”
India spends US$10-15bn on cancer drugs, as it has 1million new cancer cases every year. One company attending the bioConclave, Global Gene Corp, an innovative R&D genomics company delivering precision medicine in India, today announced a strategic collaboration with Imagen Therapeutics in Manchester, UK.
Dr Saumya S. Jamuar, Visiting Scientist at Harvard Medical School & Chief Scientific Officer, Global Gene Corp, said, “We are delighted to announce this strategic collaboration, which will deliver cutting‐edge personalised chemotherapy to cancer patients in India. Research has indicated that up to 75% of chemotherapy drugs as a class are ineffective, and our combined proposition of personalised chemotherapy, in which optimal drugs are identified for each patient using specialised testing before treatment is commenced, could have a game‐changing impact.”
Dr Anil Wali, Managing Director of IIT-Delhi’s biotech incubator FITT, said: “It is wonderful to be in London for the bioConclave 2016. Forums such as these bring a practical perspective to bringing SMEs, big pharma, innovators and investors together.”
Notes for Editor
The bioConclave is a leading conference which aims to create closer collaborations and partnerships between innovative drug discovery companies with aim to explore commercial, joint research, licensing and funding opportunities available for Indian, UK and European companies, academia and research institutes across borders. Its mission is to showcase India’s diverse expertise in the life sciences and healthcare sectors with specific focus on research and development; biotech and pharma; new technologies and medical devices.
About EPG Economic and Strategy Consulting:
EPG is an economic and strategy consulting firm based in London, Bangalore and East Africa, which offers economic analysis, strategic communications and market entry assistance. It first organised the bioConclave in 2015 after identifying the urgent need to provide a platform for Indian life sciences and healthcare companies to meet partners, investors and counterparts in Europe.
Find out more at economicpolicygroup.com.
About Global Gene Corp:
Headquartered in Singapore, Global Gene Corp is a global company comprised of an international leadership and scientific team from the world’s most prestigious institutions. The founding team has practiced medicine in some of the most distinguished organisations in the world.
Global Gene Corp is a unique provider of high-quality genetic testing services that are predictive and preventive in nature and provide actionable information to physicians even before the symptoms of a disease become evident. Moreover, our tests are customised for the Indian genotype which is significantly different from Caucasian populations. Genetic analysis has shown a clear-cut dichotomy between Indians and the Caucasoid populations. Hence, our tests are unique compared to the typical tests being offered in India that are based on Caucasian population datasets.
Find out more at globalgenecorp.com/Default.aspx.
The Foundation For Innovation and Technology Transfer (FITT) is an industrial interface organisation. It was established at the Indian Institute of Technology Delhi (IIT Delhi) as a Registered Society on 9th July 1992. The mission of FITT is to be an effective Interface with the Industry to foster, promote and sustain commercialization of Science and Technology in the Institute for mutual benefits.
Find out more at fitt-iitd.in.