The Hindu Business Line : `Hyderabad well-suited for stem cell research'

THE All India Biotech Association (AIBA), which is organising a three-day International conference on emerging trends in biotechnology here from May 2, is of the view that Hyderabad is well-suited for research on stem cells.

According to the AIBA Chairman, Southern Chapter, Dr B.S. Bajaj, though research and development on biotechnology in the country progressed in the recent years, it was far behind in its application when compared with the developed countries.

Stating that research on stem cells was being done at several centres across the country, he said there was a need to accelerate activities in this field of biotechnology. In this connection, Dr Bajaj felt Hyderabad was suited for research on stem cells.

"Hyderabad has several large corporate hospitals along with the world class R&D institutions and large number of companies engaged in drugs and pharmaceutical activities, in addition to valuable Government support for biotechnology,'' Dr Bajaj said addressing a press conference here on Tuesday.

Currently, the world market for biotech products was more than $ 100-billion in value and was expected to grow to $ 500 billion by 2010. According to Dr Bajaj, the country was lagging far behind with a mere $ 1.5-billion of biotechnology market of human and animal healthcare products.

The conference on "Emerging trends in biotechnology: Stem cells - technology, potential and trends'', is being jointly organised by AIBA, Government of Andhra Pradesh, Centre for Cellular and Molecular Biology, Centre for DNA Fingerprinting and Diagnostics and the University of Hyderabad.

Prof. Martin Evans of the UK-based Cardiff University, the discoverer of embryonic stem cells, would deliver the keynote address on stem cells during the inaugural session on May 2. According to Dr Bajaj, the international conference on stem cells was aimed at creating awareness about technology, trends and potential applications.

Aimed at encouraging the biotechnology industry in the State, the Andhra Pradesh Industrial Development Corporation (APIDC) Venture Capital Ltd, a joint venture between APIDC and Dynam Venture East, has initiated the process to set up the first dedicated biotech fund with an initial corpus of Rs 45 crore and plans to raise the size of fund to Rs 100 crore in phases.

Disclosing this, the APIDC Venture Capital Director, Mr Chandra Sekhar R. Kundur, said the State Government had committed Rs 15 crore as its contribution over the next three years, while the balance would be raised by APIDC Venture Capital.

Stating that the fund would assist the ventures attempting to commercialise the research on stem cells, Mr Kundur said APIDC Venture would be raising the necessary resources from various institutions such as SIDBI, IDBI, multilateral agencies such as International Finance Corporation, Washington, major corporate houses that were lacking due diligence facility, foreign investors and high net worth individuals.

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