Xcyton Diagnostics Ltd, Bangalore, has initiated talks with two South American companies for a possible tie up to market its diagnostic kit for Cysticercosis, a disease caused by tape worm entering the brain, in the South American markets. According to B V Ravi Kumar, Managing Director, the company would enter the South American markets starting with Brazil in the next six months.
"Cysticercosis is very prominent in South American countries which do not have proper diagnostic system to diagnose the disease at the right time. They import kits from countries like USA at an exhorbitant price. Xcyton has a good market potential in these countries," Ravi Kumar added.
The diagnostic kit is second in series launched by the company. Recently it had entered into a tie up with GlaxoSmithKline's chemical division, Qualgens Fine Chemicals for marketing its HIV and Hepatitis diagnostic kits across the country. Qualgens is to promote the company's products including promotion and distribution.
In the meanwhile, the company is in the process of entering into the development of DNA based PCR (Polymerised chain reaction) diagnostic kits for tuberculosis and HIV. According to Ravi Kumar, the company is currently in parleys with a government institute for tie up for joint development of these kits. He did not reveal the name of the government institute for business reasons.
"At present PCR kits are being imported into the country. Our product would replace the same and bring down the price of such kits," Ravi Kumar added.
The company, according to Ravi Kumar, is also entering into large scale clinical trials for its DNA based diagnostic kit for bacterial meningitis in children for which the patented technology is being licenced to it by AstraZeneca.