Saamya Biotech (India) ltd.(SBIL) has entered into an agreement with Indian Institute of Chemical Technology (IICT), Hyderabad, a premier Research Institute under the governance of Council of Scientific and Industrial Research (CSIR), the top scientific agency of Govt. of India.
Under this agreement, IICT provides all the facilities required for the indigenisation of the Technology being provided by the Italian collaborator of SBIL, the Biofin Laboratories for the manufacture of the selected biopharmaceuticals involving microbial fermentations. With this agreement, SBIL firms up its position in the manufacture of products by effectively saving the initial time consumption required for absorption and adoption of the Technology in the Indian perspective after being transferred from the foreign laboratory.
Dr.Y. Manivardhan Reddy, the Managing Director of SBIL and Dr. J.S. Yadav, the Director of IICT exchanged the documents pertaining to the agreement in the office of Dr. Yadav at IICT. In consideration of providing the facilities for the absorption and adoption of the Technology transferred from overseas, the IICT will receive a stipulated amount as a fee from SBIL in a phased manner in line with the progress of the activity.