| The Indian arm, which will have five subsidiaries focusing on different technology platforms in the biopharmaceutical space, has equity investment commitments from two leading Indian corporates ""Walchand Nagar Industries and Innovsynth Technologies India, a subsidiary of the polyester major Futura. |
| Actis Biologics Private Ltd (ABPL)- the Indian company will have 60 per cent equity held by private and high networth individual investors, another 30 per cent by private equity companies and Actis Biologics Inc and 10 per cent holding by promoters. PN Venugopalan, former UB Group Lifesciences Division, has joined ABPL board as president. |
| ABPL has already received a grant from ICICI Bank to the tune of around 45 lakhs ($1 million) and it has a funding commitment from the Centre for developing some of its very promising drug candidates in the area of cancer. |
| Actis Biologics Inc chairman and CEO, Sanjeev Saxena told Business Standard; "By setting up the Indian company, we are shifting our major research and manufacturing thrust in the biotechnology segment to India." |
| ABI's vice president, manufacturing compliances ""Richard Torigano is currently in India overseeing the establishment of the research centre as well as construction of the manufacturing units. |
| The company has several promising bioparmecutical candidates in its development pipeline in various stages. |
| One of most potential candidate for the treatment of colorectal cancer is about to enter phase 3 clinical trial, which is expected to be in the market in another eighteen months. |
| This biotechnology drug, which is developed with angiozyme technology, has been patented globally by Actis and is expected to be a blockbuster drug for the treatment of colorectal cancer. |
| This is currently a $5 billion market where Genentech's Avesten s the only drug available. |
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