Biotechnology firm Bigtec is looking for an overseas tie-up to market globally its new hand-held equipment that can perform a number of diagnostic tests to detect diseases. "Currently our hand-held device is under going clinical trials. Once we receive an approval from the regulatory bodies, we plan to enter into strategic tie-ups to go to market," said Bigtec Director Chandrasekhar B Nair.
Bigtec lab is currently in talks with partners in North America and Europe and plans to license its solutions to medical equipment makers, Nair said. Bigtec expects to introduce its products in the domestic and international markets in a phased manner and will invest Rs 10 crore in the first phase, he said.
It is working towards creating awareness about the device among medical practitioners and various medical test labs. "In any path-breaking technology, end user acceptance is the most important factor. We are working towards mitigating this risk by extensively validating the technology and striving for international regulatory compliance," he said.
Speaking about the company's plan to launch the product in India, Nair said, "We are also in talks with healthcare sector majors in India for strategic tie-up." He, however, declined to comment on the queries related to projected revenue earnings in the future.