The Pune-based Geneombio Technologies, a contract research organisation that has strong focus on genomics and molecular biology, will soon launch a predictive gene testing service to detect osteoporosis for the first time in India. The company is also looking up to raise funds of around US $15 million from venture capital market for business expansion.
The new test product, based on gene analysis, can predict susceptibility to osteoporosis in individuals by detecting gene mutations which are also referred as Snips within a patient's bone health related genes. The test will identify the genes which can lead to formation of altered proteins affecting the bone structure to cause osteoporosis when food is devoid of certain nutrients vital for bone health, according to the company officials.
"We have already developed the technology and will be launching the product in the middle of June. The genes that are analysed with the technology for Snips include those that regulate calcium and vitamin D roles in human bone formation, collagen role in bone formation, old bone elimination and new bone creation cycle," said Dr Pratap N Mukhopadhyaya, chief executive officer and head of R&D operations.
The analysis report will also contain detailed profiling of the genes (genotyping) followed by assessment of current dietary and lifestyle plan and suggested action plan based on the gene profile, current lifestyle and dietary pattern drafted by nutritionist and genetic counsellor among other information, he added.
The company is also developing the technology to predict susceptibility to diabetes type II, cardiovascular disorders and alzheimers' disease. The technologies are currently completing various stages of development and is expected to be ready for commercialisation within a month, according to Sachin Purohit, managing director, Genomebio Technologies.
He added that the company is currently in talks with various venture capitalists to raise funds of around US $15 million for R&D, veterinary genome operations and for setting up a new franchisee model for its molecular diagnostics business. The company is planning to expand its R&D area to an area more than four times of its current operations. The company, which currently produces molecular diagnostic kits and markets through franchisees, will now market the products through clinicians with the new company, Molecular Diagnostic Associates.
Geneombio is the only company which has veterinary genome service in India, claims Purohit. The company is currently catering services to milk federations to betterment the health of cattle to yield more productivity. It has also planning to provide large scale services pertaining to drug toxicity through tie-ups with major hospital chains across the country.
The company is expected to reach a turnover of Rs 15 crore in the first year of its commercial product launching. The company has been working on R&D right from its inception and is starting its commercial operations from this financial year, added Purohit.