The Dabur Research Foundation (DRF), part of healthcare and food products major Dabur Group, is keen to set up a drug discovery centre in Oman to capitalise on its plans to set up a marine biotechnology center, according to reports.

The company is in the process of formulating a firm proposal for submission to the Oman government for consideration and joining hands.

In over two decades of its operations in India, the DRF has been focusing on a range of diverse areas including ayurveda, testing and developing drugs, researching new cancer remedies and developing healthy and natural foods among others.

Working on developing and improving safety profile of nanoparticle delivery systems for anticancer drugs in India, the DRF is hopeful of being able to commercially market the cancer drug in two years.

Looking at the Middle East to do research and development for commercially viable projects, the DRF sees Oman's plans to develop marine resources as an opportunity to combine forces to tap the potential for developing new products that can be marketed globally.

The company is ready to set up the venture with a likely initial investment of $10 million. But in five to seven years it would raise the investment to over $100 million, Rama Mukherjee, the DRF president for research and development.

She revealed the proposal has already been discussed with Bassam Soussi of College of Agricultural and Marine Sciences in the Sultan Qaboos University of Oman, who is steering the Marine Biotechnology Centre project that is expected to benefit the entire Gulf region.

The new centre is expected to have special ships with laboratories on board for study of marine species.

Marine resources could offer a lot of nutraceuticals or food supplements and nutrients that can help cure a number of ailments like cancer.

The global nutraceutical market currently has several major players like Wockhardt, Lupin, Morepen Laboratories, Dabur and Himalaya competing in a market pegged at around $74 billion.

The project envisages research and development of both nutraceuticals and therapeutic drugs. All these activities are expected to generate a market for trained manpower within Oman and also open up avenues for entrepreneurs.

Dabur sees potential to develop anti-cancer, anti-aging, anti-obesity and other such drugs that could help improve the quality of life. Within the country also DRF is networking with over a score of universities and institutions to develop products and drugs that could provide cures or improve health of human beings.