Mylab Discovery Solutions, a diagnostic solutions provider, announced its foray into the vaccine and therapeutics segment with its strategic tie-up with Shilpa Biologicals Pvt Ltd (a 100% subsidiary of Shilpa Medicare Ltd), a specialist manufacturer of vaccine and wide variety of biologicals.
Starting with Covid-19 vaccine manufacturing opportunity, the parties plan to strengthen the relationship by expanding the product portfolio in various other areas including various biosimilars, other vaccines & diagnostics, a statement said.
Mylab plans to develop world-class diagnostics, vaccines and therapeutics to augment its presence in the healthcare market. The company will leverage the technical expertise of Shilpa Biologicals in development and manufacture of biopharmaceuticals through its world class facility at Dharwad, the company said.
“Our strategy to offer value-driven innovation helped us disrupt the diagnostics market in India. We have proudly served millions of people across the globe with our diagnostics and we believe we can drive similar milestones in the vaccine and therapeutics space. Combining Shilpa’s expertise with our strength, Mylab can create significant value with companion diagnostics as well. This is an important step for us to make quality healthcare available to all”, said Sujit Jain, Director, Corporate strategy at Mylab.
“We have deep expertise in R&D driven manufacturing of complex vaccines and biologicals at a scale that can serve the world. Our partnership with Mylab will help us unlock significant value in the newer market segments of preventive healthcare. Together, we aim to create products that can serve global markets and establish market leadership”, said Vinay Konaje, Managing Director of Shilpa Biologicals.
Shilpa Biologicals will utilise its integrated R&D cum manufacturing facility in Dharwad, spanning over 11 acres, to cater to these requirements. This collaboration will also be developing novel technologies that can enable production of safe, efficacious and costeffective vaccines and therapeutics. The first vaccine project under this long-term partnership is currently under final evaluation phase and the manufacturing is expected to start by March’2022.
Hasmukh Rawal, Managing Director of Mylab Discovery Solutions, said “Our vision is to develop a complete ecosystem around health of a patient. We want to ensure that from aprovider to a patient – all should get a fair value in the system. For this to happen, the current models of care have to change and it is only possible to do with an integrated approach — from testing to treatment.”
“At Mylab, we are driven by the strong conviction that our technology would bring significant and affordable benefits to human health. Our aim is to provide life-saving solutions for people worldwide.” he added.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.