INCOR Group buys stake in Renovis Pharma to form a new JV INCOR Renovis
Jun 27, 2022
Hyderabad (Telangana) [India], June 27 (ANI/BusinessWire India): Hyderabad based conglomerate INCOR Group and Renovis Labs, promoted by Prof. Javed Iqbal - country's esteemed scientist, have entered into a new JV 'INCOR Renovis'.
The new company will focus on developing cost effective and green technologies in the areas of Human health, Animal health and Agriculture and will work towards making India self-reliant in manufacturing medicines under the AatmaNirbhar Bharat Abhiyan.
One of the major problems highlighted by the COVID-19 pandemic was India's increased dependency on China for raw materials and APIs (for essential medicines). Over the last few decades, Indian Pharma companies have struggled to develop technologies for the raw material or the intermediates, which are superior to the Chinese technologies in terms of cost, scalability, and quality and environmentally friendly.
In order to counter this major problem and reduce the dependency on China, INCOR Renovis Pharma has come up with a new innovative methodology wherein it uses a combination of chemical, biological and engineering solutions to create high quality, cheaper and safer medicines. The second major goal of the company is set out to achieve in its 10-year long term plan of reducing carbon emissions associated with drug production and pharmaceutical development processes. The company plans to use automation in manufacturing to realise this vision and is in the process of filing numerous patents for its inventions and discoveries.
Dr Aman Iqbal, Chief Executive Officer, Incor Renovis said, "We are excited to work together to make India Self-reliant on Pharma Raw material and protect the environment."
INCOR Renovis is building a directed evolution technology platform to solve chemical process challenges and also developing a microbiology platform to generate basic chemicals. It is further automating chemical R&D and manufacturing to reduce time, cost and manpower requirements in the entire process.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
