US biotech firm eyes $400 mn investment in Himachal

Nanobiosym, a US bio-technology firm, is keen to invest $400 million in a project to manufacture world-class equipment for the global market in Himachal Pradesh.

The project was submitted (over the weekend) to Himachal Chief Minister Virbhadra Singh here by Anita Goel, chief executive officer, Nanobiosym, a Boston-based company.

"We have envisioned a project of over $400 million for Himachal Pradesh, to be carried out in a phased manner, to manufacture DNA Diagnostics equipment to enable highly accurate and reliable detection of DNA- or RNA-based pathogen within minutes," said Goel.

She said her company had stepped in with its proposal to invest in Himachal as the state had a potential for emerging as a major centre of nano biotechnology in the country.

"The Himachal government is already working out necessary modalities for equity participation with Nanobiosym," said Singh.