International Biotech Park at Pune set to expand

Promoters plan to add 150 acres more to existing facility

The International Biotech Park (IBP), a life sciences research park in Pune that is slated to start operations by the end of this financial year, has already leased out around 40 acres of land out of the total 100 acres.

One of the tenants at IBP is likely to be a US-based start-up company that is planning to take a built-to-suit facility on lease at the biotech park.

This apart, the promoters of the biotech park are also looking at adding around 150 acres of land to the existing facility, besides setting up another biotech park in the country within the next three years.

The research park, that has been conceived to meet the infrastructure requirements of scientists, pharmaceuticals and biotech companies, is a joint venture between TCG Urban Infrastructure Holdings Limited (a Chatterjee Group company) and the Maharashtra Industrial Development Corporation.

Speaking to Business Standard, Bamasish Paul from The Chatterjee Group, said, "We have almost finalised a deal with a Florida-based R&D start-up company that is planning to take between 80,000 sq ft and 100,000 sq ft of land on lease at our facility."

The company is looking at setting up a contract research organisation in the facility within another six-months time, he added.

"This will be the first time that this US-based company will venture into India," Paul said. "This apart, there are another 10 Indian companies that have taken land on lease to set up their R&D units at the International Park," he added.

"IBP will have a Bio Resource Centre that will have incubation facilities for early stage companies. These will be ready-to-use facilities where we will lease out labs for a minimum period of one year. Such centres will help small and medium sized companies that have great ideas but no infrastructural facilities for research, as there will be financial and legal counselling given to them also," he said.

"This apart, we are also in talks with a US-based university to set up a life sciences institute in the premises to meet the manpower needs of pharmaceutical and biotech companies in India," Paul said.

IBP proposes to have an academic and research institute on 10 acres of land that will have state-of-the-art teaching and research facilities.

"We are now looking at adding another 100-150 acres of land to the existing IBP within a year's time. This will be an extension to our park," he added.

"Within the next three years, we are also planning to set up another biotech park in the country," Paul said.

"This will again be a pubic-private partnership. So when any state government that is looking at setting up a biotech park proposes a bidding process, we will apply," he added.