Special Correspondent

11 letters of intent signed during BioAsia conference

HYDERABAD: ICICI Knowledge Park and Merck, a German pharma major, completed B2B (business-to-business) meet for the setting up of a research and development unit at the just concluded BioAsia-2007.

If the negotiations bear fruit, Merck would have its R&D unit in the IKP in Hyderabad, Raveen Reddy, Additional Secretary to State Government, Biotechnology, said here on Saturday. While 30 B2B meetings were held, as many as 11 letters of intent were signed during the three-day BioAsia conference.

Insulin plant

The biggest ticket during the BioAsia-2007 conference was Biocon's initiative to invest in the establishment of an insulin plant at Pharma City in Visakhapatnam and an R&D Centre at Genome Valley phase-III, Karakapatla. Allotment letters of 50 acres of land were issued in Pharma City, Special Economic Zone in Visakhapatnam, and Genome Valley.

ITC and ICRISAT also signed a memorandum of understanding for research collaboration on subabul and eucalyptus. Federation of Asian Biotechnology Associations (FABA) signed an MoU with Supreme Council of Biotechnology of Iran.