Funds are not a constraint
Biotech entrepreneurs are looking for funds. Similarly VCs are also looking at newer areas of investment opportunity to reap maximum returns. Biotechnology is one of many newer areas VCs are eyeing. From BioSpectrum

Also read related article Firstcall India Equity keen to invest in biotech start-ups.

Management issues that challenge Biotech startups
Many biotech companies fail to make the leap from the lab to clinical trials and beyond. The reason for such failures is an ongoing conflict, at many companies, between the collegial, informal, creativity-based management model common to scientific endeavors and one that has more discipline, structure and predictability. From Bio-IT World

BioSpectrum awards for 2004 announced
The BioSpectrum Awards Nite in Bangalore was kicked off with a panel discussion on the proposed National Biotech Policy. Dr MK Bhan, secretary, Department of Biotechnology (DBT), was the chief guest for the function.

Becton Dickinson plans alliances in India
Becton Dickinson (BD) India Pvt Ltd, which is a wholly-owned subsidiary of US-based $5 billion Becton Dickinson and Company — a medical technology firm serving healthcare institutions, life science researches, clinical laboratories — is working towards forming strategic alliances with Indian pharma-biotech companies and clinical laboratories for developing safe medical and single-use devices. >From The Financial Express

Shantha Bio launches DNA Erythropoietin
SHANTHA Biotechnics Ltd has announced the national launch of its fourth r-DNA product — recombinant DNA Erythropoietin (EPO) in pre-filled syringes form under the brand `Shanpoietin'. From Hindu Business Line

Biocon ties up with Vaccinex for antibody products
Biotech major Biocon has entered into a strategic partnership with New York-based Vaccinex to discover and co-develop at least four therapeutic antibody products. From The Economic Times

AstraZeneca begins work on R & D Unit
The new unit with an initial investment of $10 million is scheduled for completion by the middle of 2006, Ms Kumud Sampath, President, AZ R&D Bangalore, said. It will be one of the company's four other process R&D facilities located worldwide. From Hindu Business Line

Dr. Bala S Manian
Serial Entrepreneur & Founder - ReaMetrix.

		1. How does ReaMetrix intend to tap India's potential through its new operations here? ReaMetrix was started with the primary focus of leveraging the cost efficiency of Indian scientific resources to address the rising cost of innovation in life sciences in the US. Hence leveraging India was not an after-thought. ReaMetrix uses cost efficient resources in India to develop high-value

reagents that address unmet needs in the rapidly expanding field of cell function assays. The cost efficiency enables ReaMetrix to generate research reagents and reagent combinations with the degree of standardization and validation not available elsewhere. Click here for the ReaMetrix corporate profile.

2. ReaMetrix Inc leverages the India-US corridor to develop Biotech solutions. Can you briefly enumerate the thought process behind the strategy?

Many compelling opportunities have been abandoned in the US by the investment community in the US because of the risk reward profile. By exploring the same opportunities using the Indian resources, ReaMetrix has been able to “unorphanize” such opportunities. For me personally, it is like reliving my early entrepreneurial years in Silicon Valley; but this time in Bangalore.

3. ReaMetrix's India operations include manufacturing, which possibly is a non-core activity. Will this give a fillip to other support industries here, directly or indirectly?

Manufacturing has to be part and parcel of R&D to provide real world context. ReaMetrix will manufacture in India as long as we have cost leverage. Today we import all our starting material from US and the cost of transportation is less than the labor savings. I see a lot of opportunities not only to manufacture our starting material in India but also go up the value chain and find markets for our solutions in India. Diagnostics based on local components is a huge untapped opportunity.

4. Considering that you are a successful serial entrepreneur, till what stage of growth do you play a hands on role? What do you think is ReaMetrix's degree of maturity at present?

I stay with the company only as long as I am useful. I am an active participant in the enterprise and it is my hands on role that permits me to enjoy the journey. Once the team begins to mature, I will start looking for the individual who is going to take “the baton” away from my hands. That process of exploration has not yet started at ReaMetrix. On the other hand, everybody at ReaMetrix knows that they are “interning” at ReaMetrix for the top job or to start their own companies in five to seven years.

5. At a personal level, what is that one ability that helps you identify the winning idea, always?

My ability to continually check my entrepreneurial optimism with a “dose of reality” from the market place. I first focus on the “unmet need” rather than on the solution technology. Then I constantly try to validate and refine the definition of the “unmet need” fully willing to either radically change the approach or even abandon it.

6. Skill availability and cost competitiveness are generally the reasons given why India is a name to reckon with in the global Biotech scenario. Is there more to the India story?

Skill is not a stationary state and it has to continually evolve as our understanding of human biology undergoes radical changes. What I see in the work force I have encountered in India is a thirst and a desire to stay on top of the cutting edge developments. This is a competitive advantage not covered by any statistics.

7. Observers say that the Biotech sector is at an exciting stage of its evolution in India. Do you see that as an inflection point? Or is it a sign that the industry needs more time to learn and mature?

I have two answers to those observers. First, Biotech sector in India is at a very nascent stage and we have a long way to go before I would assign a trend line to it. Second, unlike the IT sector, Biotech sector’s future is going to be determined not only by its ability to meet external demands but also evolve to meet huge internal needs in India.