Genomics Biotech, a New Delhi-based company, is setting up a biotech centre in the capital.
The centre will have real-time polymer chain reaction (PCR) machines which help in the analysis of genetic defects. This machine identifies genetic defects in the body which can then be rectified using corrective gene therapy.
"Advanced genetic diagnostics are not available in the country as of now," says Shiv Kumar Gupta, managing director, Genomics Biotech. "We are the first company to introduce these tests in the country," he adds.
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The company plans to start off with one machine which will cost around Rs 1.3 crore. After that, the company would acquire other machines at six monthly intervals.
"We will be charging Rs 3,000 per test. This is much lower than the cost of these tests abroad. In the United States (US), these tests cost around $100. The cost to the company including consumables and establishment expenses will be approximately Rs 500 per test," says Gupta.
He said the profit margins are fairly high. On a conservative estimate, the company expects to conduct 5,000 tests per machine per year.
Genomics is also in the process of trying to tie up with research-based companies in the US for providing the genetic profile of people of the Indian sub continent.
Such data is in great demand by research companies which use it to work out the appropriate gene therapy models which enhance the therapeutic value of genetic drugs manufactured by them.
Genomics also plans to install an oligo synthesiser machine used for molecular biology experiments useful for diagnosis and research. Currently, most research institutes have to send samples abroad for testing, says Gupta.