Shapoorji Pallonji Biotech Park and the Andhra Pradesh government have signed a memorandum of understanding (MoU) with the US-based Biotech International Center for promoting partnerships between biotech companies in the US and India, technology transfer and marketing of the Biotech Park.
Biotech International would provide technology transfer, arrange joint ventures and attract international biotech companies to set up shop at the Hyderabad Biotech Park.
Shapoorji Pallonji Biotech Park is an 89: 11 (limited to the extent of land value with voting rights) joint venture between Shapoorji Pallonji & Co and the government of Andhra Pradesh.
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The Andhra Pradesh Industrial Development Corporation Venture Capital Ltd (APIDC VCL), also signed four agreements and memoranda of understanding for venture investment in Indian operations of US-based biotechnology companies.
These companies