Indian biotech firms planinvestments in Germany

23rd August 2004, Comments 0 comments

24 August 2004 , NEW DELHI - Three Indian biotechnology companies are in an advanced stage of negotiations to set up operations in Germany, it was reported. The proposed investments would be in the form of research and development facilities, UNI news agency reported from the southern city of Bangalore, capital of Karnataka state. The facilities would be based at the Frankfurt Innovation Centre for Biotechnology (FIZ), a biotech cluster in the German state of Hessen. "Two companies from Bangalore and one f

24 August 2004

NEW DELHI - Three Indian biotechnology companies are in an advanced stage of negotiations to set up operations in Germany, it was reported.

The proposed investments would be in the form of research and development facilities, UNI news agency reported from the southern city of Bangalore, capital of Karnataka state.

The facilities would be based at the Frankfurt Innovation Centre for Biotechnology (FIZ), a biotech cluster in the German state of Hessen.

"Two companies from Bangalore and one from Pune plan to have R&D centres in Frankfurt. The talks are on and the details should be finalised before October," FIZ managing director Christian Garbe said at a press briefing in Bangalore.

He declined to reveal the names of the companies or the amount of investment.

"Presence in the FIZ will allow Indian companies to undertake collaborative research with large German pharmaceuticals such as Bayer and Merck, which are based in the Frankfurt area," Garbe said.

The FIZ entered into an agreement with Karnataka state in July to facilitate partnerships and investments between German and Indian biotech companies.

DPA

Subject: German news

0 Comments To This Article