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Theramyt lab facility inaugurated in Bangalore


Daijiworld Media Network – Bangalore (EP)
 
Bangalore, Jan 31:
The British Deputy High Commissioner Bangalore, Mr Ian Felton, inaugurated the lab facility of Theramyt Novobiologics, the niche biotech company based in the city on Jan 30.
 
At the 14500 square-feet, fully compliant facility located in Yeshwanthpur, Theramyt will develop novel therapies for disease areas such as oncology, rheumatoid arthritis, diabetes, cardio-vascular diseases and metabolic disorders.
 
Theramyt Novobiologics works in the bio-therapeutics space, specializing in developing more affordable versions of innovator drugs as well as their improvements. The company is poised to develop best drugs at affordable prices, in both emerging and global markets, through strong research and development capabilities and smart application of science to control the costs of healthcare.

 
Speaking at the inauguration ceremony at the lab facility, Deputy High Commissioner Ian Felton encouraged Theramyt to collaborate with UK-based biotech companies in their endeavour. “Theramyt is the type of company the UK would like to get to know better. The UK has the largest biotechnology sector and does more research and development in biotech than all of Europe,” he said.
 
Theramyt had raised an investment of Rs 27.5 crore in June 2013 from the venture capital firms: Accel Partners, IDG Ventures, Aarin Capital, and the Karnataka government-backed KITVEN. The investing firms are stalwarts in the IT, E-commerce, and Life Sciences domains.
 
Representatives from the investing companies, as well as Theramyt’s scientific and strategy advisors, drawn from esteemed institutions such as IISc, IIT-Delhi, NCSU at Raleigh (USA) and IIM-Bangalore, were present at the inauguration ceremony.
 
Theramyt Novobiologics has been launched by serial entrepreneurs Sohang Chatterjee and Kavitha Iyer Rodrigues, whose earlier biotech venture, Inbiopro, was acquired by Strides Acrolab in 2012. Having successfully built a biosimilar development company in the past, Theramyt’s leadership team is seen as a key player in the global biotech industry.
 
The company is committed to Research and Development, and it forges collaboration with domain experts, the industry and academia. The company also sets itself apart through its unique focus on robust technology platforms that offer improved protein expression as well as increased potency and efficacy—key factors in biological drug designing.
 
Speaking on the occasion, Theramyt’s CEO, Sohang Chatterjee, said, “Biotechnology has now become the prime instrument in conquering that final frontier of medicine—personalized therapy. Theramyt seeks to be a leader in biological drug development, to develop advanced biologics through cutting edge technology platforms that would deliver affordable and best-in-quality drug products.”


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