Canbank Venture Capital Fund (CVCFL) Picks Up Stake in Bioneeds India Pvt. Ltd., (Bioneeds) Bengaluru

* Bioneeds is a OECD GLP certified and AAALAC accredited Pre-Clinical Contract Research Organization with 1,10,000 SFT of world class Vivarium and supporting laboratories at Bengaluru.
* Bioneeds has strong research oriented scientific manpower of 150 people.
* Bioneeds services highly reputed Indian and International Pharmaceutical, Biotech, Agrochemical, Medical Devices, Nutraceuticals, Cosmetics and Industrial chemical companies.
* Bioneeds will deploy funds in the ensuing expansion plan to broaden its service offerings which would include Discovery, Development and Regulatory service under one roof for pharma, biotech, agrochemical and medical device companies.
* Bioneeds has highly skilled scientific manpower of 150 people, several of them with Phd./Doctoral Research to their credit.

Mumbai, India, December 24th, 2015 — Canbank Venture Capital Fund Ltd (CVCFL) through its Fifth Fund viz., Emerging India Growth Fund has invested Rs.250 Million by way equity shares and convertibles for a minority stake in M/s Bioneeds India Private Limited (Bioneeds).

Total expansion program will lead to addition of 120,000 Sq ft of facility, of which 55,000 Sq Ft will be added immediately. This will result in total 230000 Sq ft facility consisting of Biopharma discovery labs (Molecular Biology, Cell Culture, Upstream and Downstream, DPD, Bioanalytical and QC labs). NEC discovery labs (Chemistry, DMPK, Safety Pharmacology, Bioanalytical and Canine Facility) and also additional manpower of 75 scientists. With this expansion, Bioneeds will be offering full range of Discovery, Development and Regulatory services to Pharma, Biotech, Medical Device and Agrochemical companies.

Mr S Thiruvadi, Managing Director, Canbank Venture Capital Fund Ltd. (CVCFL) said, “Globally, Indian Scientific Community is highly respected for their ingenuity, professionalism and contribution they have done in the field of new Drug Discovery. Also, they have created positive impact in other industries in which Bioneeds offer their services. High-quality scientific manpower coupled with cost advantage of India, is a compelling business reason for many international companies to outsource their research work in India. Bioneeds has demonstrated this and is very well positioned to capture the growth opportunity with their well-qualified scientific manpower. The EBITDA and PAT margins from Bioneeds are good and CVCFL anticipates that Bioneeds with their strong customer base and progressive professional management will achieve high growth in the revenues and profitability and be able to offer significant returns through dividends and capital appreciation on exit. CVCFL from its fund EIGF has been assisting unlisted mid stage/late stage companies in the manufacturing and services sector with good growth potential and require funding”

According to independent reports, global R&D expenditure for the pharmaceutical industry in 2014 was about US$ 139 billion with significant potential for outsourcing. Penetration of outsourcing to independent CROs is estimated to be at CAGR of about 12.5%. Parameters like high quality Scientific manpower and cost advantage places India in a comfortable position to capture this business. World class facility and well established processes are additional requirements, which Bioneeds has rightly identified.

States Dr. S.N. Vinaya Babu, MD, Bioneeds, “we are a first-generation business built primarily on high quality work by our well qualified scientific staff. Our high-growth till date has been funded by internal accruals and borrowings. We have been actively looking for funds to strengthen our balance sheet and also expand our services. The funds from CVCFL shall be deployed to build additional Vivarium and Discovery Labs with state-of-the-art equipments. This will help us to broaden our service offerings and deepen our relationship with 250+ active customers we currently service. We aim to be counted among the best Global CROs offering complete range of services. We aim to become INR 1,000 million Company in next 3 years.”

Press & Media Contact:
Mitesh M Kapadia
Sentinel Public Relations Pvt Ltd / Sentinel Advertising Services
B-603, Samajdeep, Near Bhanu Park/Seasons Restaurant
Adukia Road, Off S V Road
Kandivli (W), Mumbai 400 067 India
Mob: +91 98205 03876
Tel: (022) 28625131/32
Fax: (022) 28625133
mitesh@publicrelationindia.com
http://www.publicrelationindia.com
http://www.canbankventure.com

SmartTOP Add-On Convertible Top Controller for Audi TT Roadster 8S Soon Available

The SmartTOP Add-On Convertible Top module made by Mods4cars is going to be available soon for the Audi TT Roadster 8S. It allows use of the top via the console switch while driving and with one-touch convenience. Additionally the top can be controlled with the original key fob remote from a distance.

Las Vegas, NV (USA), December 24th, 2015 — Aftermarket automotive electronics specialist Mods4cars, known for the Add-On Convertible Top Controllers called SmartTOP, announced an availability timeframe of January 2016 for the new Audi TT Roadster 8S SmartTOP kit. “We are happy to bring our convenience adding product to the new Audi TT Roadster very soon. Since 2007 Mods4cars has had a SmartTOP kit available for the Audi TT Roadster 8J.” explains PR-Manager Sven Tornow.

The SmartTOP module allows convenient one-touch operation of the top while driving from the console switch. All that is needed it a quick tap to start a full automatic top operation. It is no longer necessary to hold down the switch. Drivers get to return both hands to the steering wheel immediately.

Aside from one-touch operation the top can also be controlled from the original key fob remote. Entering a key combination on it is enough to open or close the top from afar. No modification is necessary to the original key or receiver system.

The new SmartTOP module for Audi TT Roadster 8S also adds a host of bonus features: The windows can be controlled separately from the top by remote. The wind deflector can be programmed to automatically rise up after opening the top. The operation direction of the console switch can be inverted, if desired. An extended mode can be activated, which allows starting or stopping the engine while an ongoing top operation still continues. The entire module can be temporarily disabled while retaining all other settings for when it is re-enabled later.

All features can be configured to individual taste. A USB port allows configuration of the module via PC or Mac. “Installation of the product is very easy and straightforward as well. A custom designed plug-and-play wiring harness makes connecting the module to the vehicle electronics a matter of seconds.” Sven Tornow continues.

Mods4cars offers SmartTOP Convertible Top Controllers for many popular car brands: Alfa, Audi, Bentley, BMW, Ferrari, Ford, Infiniti, Jaguar, Lamborghini, Mazda, Mercedes-Benz, Mini, Nissan, Opel, Peugeot, Porsche, Renault, Volvo and Volkswagen. Also for the previous Audi TT Roadster 8J a SmartTOP kit is available.

The convenience add-on for the new Audi TT Roadster 8S will be available for 249 Euros + tax.

A first demonstration video can be seen here:
http://youtu.be/f3QuePFYSeI

Further details:
http://www.mods4cars.com

About Mods4cars:
Mods4cars was founded in 2002 with the idea to add a highly demanded feature to the otherwise almost perfect Porsche Boxster: Comfort One-Touch roof operation while driving at slow speeds. The resulting product offered not only that, but also allowed quick and easy installation by just swapping out a relay box, thus leaving no traces and no permanent changes on the vehicle. The first SmartTOP roof controller was born.

The success of their first products in Germany and Europe prompted them in late 2004 to move operations to the USA, to be able to serve the American market as well as all other English speaking countries such as Australia, UK and South Africa from one central location. Their business has grown to a full-fledged international corporation with an office in Las Vegas and a full line of innovative products as well as distributors and installation partners all over the globe.

Being highly specialized in the development and distribution of aftermarket roof- and comfort controllers since 2002 allows them to offer an unsurpassed level of competence and product quality. Their main goal is optimization of each individual product to a maximum in compatibility, usability and intuitive operation. They put greatest effort into development and quality checks of all their products to achieve this goal and meet all expectations of their customers.

The extraordinary success of their products is also based on the great communication with their customers, which usually already starts for each new product during the development and prototyping phase.

Press & Media Contact:
Anja Lehmann
Mods4cars LLC
1350 E. Flamingo Rd #3100
Las Vegas, NV 89119 – USA
+1-310-9109055
lehmann@mods4cars.com
http://www.mods4cars.com