GeneStore to drive biotech innovation through incubators
To help publicly-funded research institutes in India to create own startups
Hyderabad: Genetic testing company GeneStore with operations spread across India, UAE, France and Uruguay, is planning to start a biotech research incubator initiative, which showcases research talent and development in publicly-funded biotech research institutes in India and enables them to start their own biotech startups.
Anubhav Anusha, founder & global chief operating officer, GeneStore, told Telangana Today, “I am a strong believer in Indian R&D talent. We have seen Indian talent go to France and train R&D professionals there. Creating biotech research incubators in India is important to further strengthen capabilities here. The only reason the American pharma and biotech industry is so advanced is that the technology transfer happens from public institutions to the private sector.”
“We intend to launch the incubator programme, which will provide access to research talent in Indian Council of Medical Research (ICMR) and non-ICMR funded institutes across India to explore technologies and build existing infrastructure to build a profitable business or develop their technology platforms,” he added.
The company will roll out the incubator initiative after its new manufacturing facility commences operations in Gurugram by mid-April, so that research institutes can form private companies and GeneStore will guide them on how to build a profitable business and how funding can be generated for their activities.
GeneStore is also looking to help companies in Europe in the private sector, which are in research that are currently in distress, where the company’s partnership can enhance their capabilities and make their business profitable. The company acquired a distressed cell biology research company near Marseille, France in 2019.
Growth opportunities
The company which makes RT-PCR test kits in India and France for Covid-19 is developing test kits for HIV, hepatitis, tuberculosis and other infectious diseases.
“We believe the future is PCR-free, meaning technology is transitioning out from RT-PCR to a platform which uses molecular enzymes but does not require PCR to yield results. We are planning to launch the entire future product portfolio based on this belief. We will have at least 100 test kits in our portfolio to cater to India’s needs as well as global, in next 2-3 months, addressing infectious diseases,” he added.
On the biotech product development front, GeneStore is developing mRNA-based vaccines to combat infectious diseases and genetic disorders. The company will be investing over Rs 80 crore in India in expanding its presence in genetic testing labs across India, as well as manufacturing and research expansion.
Anusha said, the company foresees India to become the major manufacturing and export hub for molecular diagnostic kits globally. It is strengthening its team further to explore both organic and inorganic growth opportunities. Out of the 250 people who work for the company, 70 per cent are in India.
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