Bharat Biotechnology International, specialising in product-oriented research and development, has announced plans to invest Rs. 250 crore on taking its five new products to clinical trials stage in the next two years.
The company has product patents for chikungunya, malaria, typhoid conjugate, rotavirus, Staph vaccines and biotech therapeutic molecules and the company planned to take these vaccines into clinical research with the proposed investment.
The company would invest another Rs. 75 crore for developing manufacturing facilities for taking up clinical trials of the five products.
Krishna M. Ella, Chairman and Managing Director, said the company had almost completed the process for raising the required funds through internal accruals besides taking assistance from the Department of Biotechnology and international health agencies that had come forward to provide necessary funds as grants. There were no conditions involved in the funding process and the company needed to develop low cost vaccines as part of the arrangement.
