Serum Institute of India, Pune-based vaccine manufacturer, plans to develop new drug for oncology cancer in their newly inaugurated biotech Special Economic Zone (SEZ) at Pune.
Speaking to Pharmabiz, SV Kapre, technical director, Serum Institute said, "With Lipoxen Technology, which is outsourced from foreign partners, we are developing the new molecule for oncology cancer and other vaccines also. Our new oncology cancer molecule is less toxic as compared to the other molecules. We hope the molecule will enter phase I by mid-2006."
"Serum is increasing R&D investment to 7 per cent of the revenue annually. We are keenly eyeing markets like the US and Europe for our developing molecule of oncology cancer and new vaccines," said Adar C Poonawala, executive director, operations, Serum Institute of India.
The company will get tax exemption for 15 years as it is set up as a SEZ.
Dr Cyrus S Poonawala, chairman, Serum Institute said that they were also looking for other pharma and biotech companies to set up their units in the new SEZ. Some companies had shown interest in the SEZ and expect to set up their units soon.
Last December Pharmabiz reported that Serum tied up with London-based Lipoxen Technologies Ltd for conducting clinical studies on eight protein drugs including EPO, GCSF, Doxorubicin, flu and pneumococcal vaccines. These drugs have been developed using the patented polymer conjugation technology like PolyXen and ImuXen provided by Lipoxen.
According to the agreement, Lipoxen will transfer the technology to Serum Institute, and is currently providing technological know how to the company's scientists. If the trials are successful Serum will be able to market the products in India, Africa, Asia (except Japan) and Latin America. Lipoxen will control the marketing rights for Europe and the US.
The company inaugurated their Rs 1200-crore biotech SEZ in Pune today. The investment project will be divided by 3 phases. The first phase investment will be a minimum of Rs 500 crore. Serum will have 5-6 units. A few units will start production in the next 3 months. The project is expected to be completed by 2010.