Tag Archives: nutraceuticals

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
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Kandivli (W), Mumbai 400 067 India
Mob: +91 98205 03876
Tel: (022) 28625131/32
Fax: (022) 28625133
mitesh@publicrelationindia.com
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Elder Pharma begins Exports of Superbrand ShelCal to more than 25 Countries, targets Rs 100 crore from Global Sales

• International rights of Shelcal still with Elder after selling off brand in Domestic markets to Torrent group last year. • Elder’s wholly owned UK Subsidiary to spearhead European expansion plans.

Mumbai, India, Jun 26th, 2015 — With International rights for Shelcal still with Elder Pharmaceuticals Ltd, the company has aggressively started marketing this superbrand globally. Elder Pharma has already started exports of its leading calcium supplement brand to about 25 countries with many more on the anvil. For the year 2015-16, the company is likely to notch up sales of over Rs 25 crore and the demand is coming from some of the most unusual countries like Cambodia, Myanmar, Sri Lanka, Mauritius, Maldives, Zambia, Uganda, Yemen, Guyana, Burkinafaso, Cameroon, Congo, Ivory Coast, Gabon, Papua New Guinea, Mali, Mauritania, Niger, Senegal, Burundi, Rwanda etc. Shelcal is currently exported in the form of 250/500 mg tablets and Syrup but new line extensions are also being planned which will include Shelcal CT (Calcitrol), Shelcal OS (alpha Calcitrol) and Shelcal HD (high dosage of Vitamin D3).

Says Alok Saxena, Director, Elder Pharmaceuticals Ltd, “About a year back, Elder had sold the rights for the domestic markets of Shelcal and 30 other brands to Torrent group for a consideration of Rs 2000 crore but had retained the rights for the international markets with itself. With overwhelming response and acceptance of its product in all these markets, the company is looking at strong prescription base in over 70 countries by March 2017.”

Elder is also targeting the markets of Europe, CIS and LATAM. Shelcal’s European thrust will be spearheaded by Neutra Health plc, its wholly owned subsidiary in the UK which will market it across the EU. Sold through the ethical route, Shelcal has found support from health conscious persons as the source of calcium used in Shelcal is from ‘oyster shell’, which provides calcium in its purest form. Because of its organic origins, it is highly bio-available and gives significant increase in BMD (Bone Mineral Density). Other calcium supplements have synthetic origins and hence their contribution to BMD does not match up to Shelcal. Shelcal’s success also stems from the fact that it targets different segments like management of calcium deficiency, osteoporosis, pregnancy and lactation and is suitable for all ages.

Adds Saxena, “Earlier our production capacities were barely able to fulfill the domestic demand for Shelcal and hence we were not pursuing the exports markets in a big way. Now that we have sold the domestic rights of Shelcal we can focus on the vast global markets.” Judging by the response received so far, Elder should be able to garner a turnover of about Rs 100 crore from the International operations of Shelcal by 2017-18. The company is also looking to export another nutritional product, Thrive, a natural supplement that helps fight chronic metabolic disorders.

About Elder Pharmaceuticals Limited:
Elder Pharmaceuticals Limited [NSE: ELDERPHARM] has presence in niche therapeutic segments like Anti-INfectives, Nutraceuticals /vitamin Supplements, Dermatology and Antibiotics. It is the market leader in wound healing and injectable B12 vitamin. The company has its presence highlighted across the domestic pharmaceutical chain from in-house manufacturing, In-licensing agreements and clinical Research & Development services to gradually developing Custom Research and Manufacturing Services for advance intermediates, Active Pharmaceutical Ingredients and Dosage Formulations

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.elderindia.com