Century Biotech a division of Century Pharmaceuticals, recently entered into an Memorandum of Understanding (MoU) with a US based clinical research organisation firm Amarex and with Sumandeep University to develop molecules for asthma and allergies. The company has already got its approvals from i4RD and SBIRI for funding its research programme.
The company is also in talks with a few PE players and investors for the second phase of fund raising. The company has also signed an MOU with a few biotech firms in India for co-development of research molecules.
Ahmedabad based GVFL had already invested in Century Pharmaceuticals in the first phase of this project and the company is now considering another round of investment later this year. Century is in the process to raise between Rs 10 to 15 crore to fuel its production of APIs and also undertake biotech research work.
Century Biotech is currently engaged in development of a NCE to treat asthma and allergies, using a patented technology—apoptosis, a concept from an Israeli company. Apart from working on asthma NCE, Century is also planning to work on development of bio-similars and also undertake contract research projects.
According to Janak Sheth managing director, Century, “As pure research is not so popular in India, we are expecting that research boutiques like Century Biotech would catalyse extensive research activities in the country. A research boutique is important as it develops molecules, takes them to phase I or phase II clinical trial stage and then puts them for sale to big pharma companies. This model is popular in the US and to a certain extent in Europe as it offers semi-finished molecules to pharma majors who need not invest in the initial stage of the molecule development. Century is unique in starting this concept in India and we are hopeful that we will be able to encourage others to follow our suit.”
While phase II clinical trials are conducted on fewer human beings, phase III is a broad based trial. India is credited with being a low cost research destination for many global giants who have now thought of setting up R&D centres in India. Several centres for clinical trials with good accreditation have come up in the recent past.
The new plant of the company is designed to comply with the US FDA requirements informed Janak Sheth.
Century Pharmaceuticals Ltd, an active pharmaceuticals ingredient manufacturer (API) since 1982, is in the process of developing vitamin D3 derivatives, ophthalmic products such as brinzolamide and prostaglandins such as bimatoprost, latanoprost and travoprost.
The company is at present manufacturing acenocoumarol, macrolides such as azithromycin, roxithromycin and clarithromycin in addition to erythromycin stearate, estolate, ethyl succinate and erythromycin base. The company’s oxytetracycline base dihydrate for injection and Hcl for injection are very popular and are based on excellent quality standards.
Other products of the company include are calcium oxytetracycline, fluphenazine decanoate for injection, fluticasone propionate. The macrolides from Century are in a good demand both in India and overseas. The company is growing rapidly by increasing production capacity and serving several markets.