SP Biotech Park to be expanded

Hyderabad | Updated: Nov 29 2004, 05:30am hrs
SP Biotech Park, located in the Genome Valley, Hyderabad, covering a total area of 600 km, is launching its third phase of development.

With the existing occupancy nearly full, the Andhra Pradesh government is now in the process of earmarking additional land for phase three stage of the biotech park, revealed S Dhawan, chief executive of SP Biotech Park. We are in the process of identification of nearly 100 acres of land. Besides, we are pursuing with the government for a land for constructing a township. The modern township will have recreational and commercial facilities which are equally important to the residents of the park, he added.

One of the important developments is that chemistry-based drug discovery and development company, Albany Molecular Research Inc, is setting up its biotech operations in India. The US-based, $200-million company, focussing on research in small molecules for prescription drugs, has recently booked space at the SP Biotech Park Pvt Ltd, Hyderabad.

Further, according to Mr Dhawan, the company has acquired about 2.75 acres of space in the first phase of the park.

Albany is involved in all chemistry-related phases of the drug discovery, development and manufacturing process right from identification of lead molecules to commercialisation. Besides, the company is developing new technology for potential prescription drug applications.

With the Bangalore-based Avesthagen Gengraine taking up nine acres, the space bookings for phase I is nearing completion and the developers are now concentrating on the phase II activities of the biotech park.

The phase II covers about 162 acres, out of which Biological E has acquired about 70 acres for their vaccine manufacturing facility. The remaining space is also likely to be booked soon with two more companies from overseas evincing interest.

Meanwhile, the other occupants, KCP Biotech and Vimta Labs, have already commenced work in their units at the park. Currently, there are about 25 companies both in phase I and II operating from the park.

On the proposed incubation centre, Mr Dhawan said it is likely to be ready by next year. The Project Management Committee is expected to meet this week to work out strategies for the incubation centre. For this, a Rs 4.5 crore seed fund is expected to be floated, he said.

Further, the amount will be scaled up by seeking help from foreign VCs through the Imperial College of London with which SP Biotech has a strategic tieup.