The Department of Scientific and Industrial Research (DSIR), Ministry of Science & Technology, New Delhi, has accorded recognition to the In-House R&D Centre for biopharmaceutical research of Panacea Biotec at B-1 / E-12, Mohan Co-op. Indl. Estate, Mathura Road, New Delhi. This R&D facility for biopharmaceutical research was inaugurated on  April 17, 2006.

This centre will utilize molecular biology and genomics tools and has around 30 hard core molecular biologists, immunologists, bio-chemists, microbiologists and cell biologists. The centre will develop novel preventive & therapeutic vaccines, therapeutic fully human monoclonal antibodies and therapeutic peptides. It also plans to undertake the development of a peptide-based technology for alopecia (hair loss) management and tetravalent recombinant/chimeric dengue vaccine in-licensed from National Institutes of Health, USA and initiate Phase I trials.

‘This recognition will encourage Panacea Biotec to engage more in the research and development (including clinical trials), in area of chemicals, drugs, pharmaceuticals, biotechnology” says Mr. Rajesh Jain, Joint Managing Director, Panacea Biotec. 

In-house R&D units recognized by DSIR in the area of pharmaceutical and biotechnology sector are eligible for duty free import of specified goods/equipment for R&D, duty free import of pharmaceutical reference standards in addition to weighted deductions on revenue and capital expenditure under the Income Tax Act. This recognition provides eligibility to obtain the financial assistance from various Govt. agencies.

Sourced From :Imprimis Life PR