Life science companies in France are actively exploring ways to forge alliances with Indian counterparts at various stages of drug development including in-licensing and co-development of molecules.
The French biotech industry, with many proven skills in areas like fundamental and applied research, consider the opportunities thrown open in this field are not yet exploited to the full. They strongly feel an increase in partnership in the biotechnology sector will bring tremendous reward for both the countries.
France is having nearly 400 biotech companies. Despite being rather young, these firms have been maintaining strong R&D pipelines and several of their new drug candidates are in various phases of clinical research. However, none of them has reached marketing stage, so far.
"These companies have good science and excellent skill-sets. And they are also keen for some sort of partnership in the form co-development, in-licensing of molecules or even fresh investments,'' according to Eric Farcette, commercial attaché, Consulate General of France - Economic Mission, Mumbai.
French biotech industry also got some of the best policies implemented from a proactive government to encourage innovative start-ups, venture capital investment and support R&D projects.
Besides providing grants for start-ups and tax credits for research expenditure, the government offers some risk covers like SUIR for venture investors. Under SUIR, venture investors providing seed money for young entrepreneurs, will benefit from corporate tax exemption (for sole owners), and income tax exemption for ten years
Indian biotech companies, on the other side, are also looking for collaboration strategies with overseas life science firms with a need to fill the pipelines and technical know-how. Therefore, a mutual collaboration will make perfect sense, at this hour.
A changed patent regime giving greater protection for intellectual properties also dramatically changed the environment for the better in India, Farcette said.
Leading one of the biggest delegations of 20 companies for the Bangalore Bio 2006, the French life sciences industry aims to use the platform provided by the country's leading biotech event as an effort to realise potential, which remains hugely untapped, he added.