Chemveda Life Sciences To Invest Rs 150 Crores For Expansion In Hyderabad

22 Mar, 2022 11:02 IST|Sakshi Post

Chemveda Life Sciences now will invest an additional INR 150 crores (USD 20 Million) to add a state-of-the-art R&D center in Hyderabad with around 200,000 sqft, creating additional employment for 500 scientists. They have already received a funding of INR 90 crores (USD 12 mn) and another INR 60 crores (USD 8 mn) is committed funding. The company announced that it will add a GMP facility with a 200 KL capacity. 

Chemveda is also validating some of the game-changing scientific platforms and technologies developed at the Scripps Research Institute (ranked one of the top institutes in the world for innovation), which will allow the Pharma and Biotech companies to make molecules much simpler and faster than the conventional methods. 

Minister Mr. K.T Rama Rao said that “Hyderabad has become the most sought out destination for life sciences companies to establish their R&D centers and I am extremely happy to see companies like Chemveda Life Sciences scale their footprint in Hyderabad. I am delighted to see the industry benefiting from the active research ecosystem, progressive Government policies, abundant talent pool, in Hyderabad and we will continue to boost the R&D initiatives in the state further”

“Hyderabad is one of the most preferred global destinations for Pharma and Biotech companies to seek contract research support. We feel privileged to be a part of one of the most cost-competitive and extensive ecosystems to run life sciences R & D, `` said Dr. Bheema Rao Paraselli, President & CEO of Chemveda. “Our vision to be a smart market challenger is not only supported by our Indian and Western-trained scientists, but also by thought leaders like Prof. K. C. Nicolaou, Prof. Phil S Baran, and Prof. Jin-Quan Yu at the Scripps Research Institute” he added.

Mr. Jayesh Ranjan IAS, Principal Secretary, Industries and Commerce Dept. and Mr. Shakthi M Nagappan, Director Lifesciences, Government of Telangana were also present during the meeting.

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