The Hyderabad-based Sai Advantium Pharma is planning to invest $15-20 million in upgrading its existing facilities and adding new facilities and services, as part of its growth plan.

The company is likely to invest about $10-15 million for expanding its facilities at ICICI Knowledge Park and setting up a Technology development Centre in Hyderabad, while it will invest about $5 billion in expanding facilities in Pune.

Sai Life Sciences, one of the emerging Contract Research and Manufacturing Services (CRAMS) Company acquired Pune-based Advantium Pharma and created a new entity 'Sai Advantium Pharma Ltd' during July 2006.

The acquisition has enhanced the company's capabilities into the global drug discovery and development activities of pharmaceutical and biotech companies. It is learnt, Advantium LLC, USA initially planned to set up and run Advantium Pharma in Pune independently but as Advantium's plans matched well with Sai's core strengths, Sai Life sciences acquired Advantium.

Dr K Ranga Raju, chairman and managing director, Sai Advantium, said, the company plans to become an integrated CRO to support global drug discovery and development. Indian companies that are well equipped with skilled sources, cost advantage and protection of intellectual property are well positioned to attract global companies.

The company will continue to focus on its core competency area, CRAMS. In the next 12-18 months, the company intends to expand its activities to drug discovery and development services, he added.

The company has five facilities, three in Hyderabad, one each in Bidar and Pune. It is further establishing additional lab space of 53,000 sq ft at ICICI Knowledge Park, Hyderabad for chemistry process research and development. It is also expanding its research facilities at the International Biotech Park, Pune and has signed a lease agreement to acquire 24,000 sq ft space. It is also setting up a Technology Development Centre at Bollaram, Hyderabad.

Sai Advantium plans to offer services in the areas of pre-formulation, clinical formulation, computational chemistry, cheminformatics in the next 12-18 months. The company, which employs about 530 personnel at present, expected to take this number to 800 by 2008.

The company is expecting to rope in a new investor by the first quarter of 2007. As of now, it is scouting for the investor. It is expecting year on year raise in its revenues.