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GVK Bio Launches Clinogent

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GVK Biosciences (GVK BIO), one of the leading drug discovery research and development companies in India, launched a new brand Clinogent, exclusively focusing on end to end clinical research and development services.

“Among the global industry, GVK Bio is seen more as a drug discovery research focused company. But our strength in clinical development is also phenomenal and the new brand will help to highlight it”, said Manni Kantipudi, CEO, GVK BIO.

Clinogent would cater to end-to-end research and development solutions to the pharmaceutical, generics, biotechnology companies, and academic institutions across the globe with the focus markets being USA, Europe and Asia, he said.

The clinical development industry pegged at $16 billion is set to grow at 10.5 per cent to $23 billion by 2020. The executive said the CRO industry in India would soon bounce back as the policies framed by the Indian government are helpful. From about 400 clinical trials held in 2012, the number of trials had come down to less than ten in 2013 due to the confusion on rules related to informed consent and compensation for volunteers.

The 12 year old GVK Bio, which started off as a joint venture between the GVK group and former Ranbaxy executive DS Brar, now has drug discovery alliances with over 400 customers, from an initial tie-up with Pfizer. “Sever biotech companies into large molecule research and lacking large dedicated research facilities are our clients” said  Manni Kantipudi.

The company had done an acquisition in the US last year and that was to create capabilities in large molecule research.

The privately held company is making good revenues and profits and is not planning an initial public offer (IPO) in near future, said the CEO.