Delhi-based pharma and healthcare products provider Ozone Group has developed a protein sequencer that will significantly reduce time thereby cutting down significantly on investment in identifying potential targets for drug development.
On an average companies spend about $1 billion on the drug development process.
Drug makers currently invest one-fourth of $1 billion in protein identification, while the device promises to reduce the expenditure to about $25 million. Interestingly, with the device the process (of identifying proteins) will be completed in just one month with 100% accuracy rather than 60 months as the current process takes with about 80% chance of success.
The move assumes significance as many of the Indian drug makers including Dr Reddy?s, Ranbaxy Laboratories Ltd, Sun Pharma and Nicholas Piramal have announced separate R&D division for the development of new chemical entities.
?We had showcased the technology in the just concluded exposition ?Analytica Anacon India 2007? and are getting enquiries from several pharma companies including Dr Reddy?s,? chairman and managing director Ozone Group SC Sehgal told FE. The company will invest Rs 20 crore to set up a manufacturing facility at Baddi that will start production by May next year. It currently has five prototypes of the sequencer that are used for display in exhibitions across the world.