Actis Biologics, a US-based biotechnology company, plans to set up its research and development centre in India by the end of 2006 with an investment of USD 3 million.
"We are setting up the R&D centre with more focus on clinical development of new molecules and not with target discovery. We are expecting to set up the centre by the end of next year," Sanjeev Saxena, co-founder and CEO of Actis Biologics told Pharmabiz, and added that the company has plans to in-license new platform technologies from MNCs.
Actis Biologics' 100 per cent Indian subsidiary, Actis Biologics India, will be established next week in Mumbai with an aim to grab a share of Indian biotech market. The company is in the final stage of setting up its subsidiary office and is learnt to have identified a location near Mumbai international airport. The subsidiary would be responsible for entire Asia activities of Actis Biologics. P N Venugopalan, former director of UB Pharmaceuticals, would take charge as president, Asia operations and Dr M R Samuel will be appointed as chief medical officer of Actis Biologics India. Around 30-50 personnel with designations of project manager, trial manager and scientist will be appointed within one year for Actis' Indian subsidiary.
The company is also in the final process of scouting partners for new JVs in India for manufacturing and marketing its new lead molecules. It is seeking multiple JVs with separate partners for each of the molecule. It is known that any one of the proposed JVs will be signed this week.
"Here in India, 75% of 150 biotech companies are based on agricultural research. 20% are based on contract research. Only the remaining 5% are the full-fledged biotech companies. Many of the pharmaceutical companies and few investors have the intention to enter into the biotech market but they lack the know-how. We are scouting for that kind of companies having investment to pump into the biotech market. We will provide the technology know-how, scientific management, and manufacturing process to the partner, who has the capability to invest money," said Saxena.
The new JVs could keep the benefit of marketing the molecules across the globe, except, US, Europe and Japan. In US, Europe and Japan, Actis will market the products, he added.
Actis' molecule for colorectal cancer is under phase II-b trial. Another molecule for liver cancer is under phase I trial and other molecules for malignant melanoma, kidney carcinoma, lymphoma, breast cancer and prostrate cancer are under pre-clinical trials in US. As Pharmabiz reported, Actis had signed an MoU for a proposed joint venture with Mumbai-based Innovassynth Technologies to source nucleosides, a major ingredient in olego nucleosides.
Under the agreement, Innovassynth, a Mumbai-based contract research company, will manufacture and supply nucleosides to Actis Biologics. Actis Biologics is currently undertaking phase II-b trial of olego nucleosides for colorectal cancer in US. Innovassynth, formerly known as Chemicals Division of Indian Organic Chemicals Ltd, is one of the largest suppliers of nucleosides in the world.
Actis Biologics has also tied up with Shanta Biotechnics for conducting clinical trials of its leading cancer molecules. "The trial for olego nucleosides is under phase II-b trial in US and Shanta will hold its Phase II and III trials in India. If it gets approval, Shantha will market the drug in India," Saxena told Pharmabiz.
The current market for colorectal cancer is more than $4 billion. Leaving aside EU, Japan and US, the market potential for the new molecule will be more than $400 million. The size for liver cancer is about $1 billion.
Actis Biologics has received worldwide license for Angiozyme from Sirna and Chiron, who co-developed this novel compound with Actis. Angiozyme, a ribozyme based anti-cancer agent, has demonstrated activity against colon cancer in phase II clinical trials. Under the terms of the agreement, Sirna and Chiron will receive undisclosed upfront, milestone and royalty payments.