The Telangana government signed a MoU with Cerestra to explore Life Sciences Infrastructure Fund to the tune of Rs 1,000 crore to create modular plug-and-play infrastructure for pharma/ biotech/ medical devices industry.
Projects entailing an investment of Rs 1,680 crore were launched at Genome Valley on the first day of the three-day event.
These include MN Park’s iHub Phase II with two million square feet of lab space for R&D companies and start-ups with an investment of about Rs 1,000 crore.
The Telangana government also handed over land allotment letters for about six companies which propose to make an investment of Rs 702 crore.
Building plans of country’s largest animal resource facility were also unveiled. The facility is being set up with the central government’s grant of Rs 330 crore while the state government is allotting 102 acres of land.
Biological E’s also conducted groundbreaking of its vaccine plant in Genome Valley with an investment of Rs 300 crore.
SME Hub @IKP was also launched in Genome Valley. The 50,000 square feet incubation facility for Life Sciences SMEs is coming up with an investment of Rs 50 crore.
The 14th edition of BioAsia with the theme ‘Power of the Past, Force of the Future’, was inaugurated by Governor E.S.L. Narasimhan in the presence of high profile industry leaders from government, corporate and regulatory bodies.
He also presented Genome Valley Excellence Award to Nobel Laureate Prof. Kurt Wuthrichand and Dr. Paul Stoffels, Worldwide Chairman Pharmaceuticals and Chief Scientific Officer of Johnson & Johnson for their contribution in the field of life sciences and healthcare.
The governor noted that over 200 MoUs worth Rs 14,000 crore investments have so far been announced at BioAsia since the inception of the event.
Telangana’s Industry Minister K.T. Rama Rao said Hyderabad had always been known as the top pharma destination worldwide. “The city is and will remain the pharma production and innovation hub for the world and the proposed Pharma City will strengthen its position significantly. With new industrial clusters like Pharma City and Medical Devices park, Hyderabad is ready to assume leadership role of the life sciences industry in Asia and the world,” he said.
Bio Asia CEO Shakthi Nagappan said they were excited to witness the overwhelming response to the 14th Edition of BioAsia in terms of participation, investments and strategic partnerships.