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Bangalore scientists set up biotechnology firm

Imran Qureshi in Bangalore

Scientists in Bangalore have set up a biotechnology company dedicated to boosting nutrition value in crops and developing pest resistant genes.

Metahelix Life Sciences has been set up by five eminent scientists with a seed capital of Rs 65 million from angel investor N S Raghavan, who is also the co-founder of software major Infosys Technologies.

The company is also looking to set up a new business model. "We are trying to integrate capability in informatics with actual experimental biology," Metahelix managing director K K Narayanan told IANS.

"We will do contract research initially, but later shift to developing products that would ultimately help the farming community."

The model is significant because venture capital-funded companies expect returns in less than 24 months and biotechnology is an area where research to develop products could take a minimum of five to seven years.

VC companies in India have in the past funded biotech firms but unlike the US, the country does not have full-fledged "strategic investors" like pharmaceutical companies who would understand the needs of biotechnology.

"Innovation in business models is still at an embryo stage in India," said Ganesh Kishore, a US-based Metahelix director and a member of the government's task force on biotechnology.

Metahelix will focus on contract research, consulting services and laboratory information management systems and develop gene discovery and development capabilities that could be harnessed to create agri-feed, food and fiber, and fuel the value chain.

"For instance, we are looking at better nutritional attributes to any agricultural produce or increasing the yield," said Narayanan.

Adds G Padmanabhan, former director of the Indian Institute of Science and a Metahelix board member: "They can also look at modifying the biotechnology cotton gene that can act against the pest bollworm."

"If a seed company wants to develop a strain of rice that can withstand pest pressure, we could be the research and development laboratory for this firm," said Kishore.

"They could fund stage-by-stage, sharing reward and risk. Calorie and protein malnutrition, micronutrient deficiencies haunt every major segment of India's population."

Agricultural biotechnology offers tremendous potential to meet societal needs, a company official said.

"One cannot think of a biotechnology company that is totally dedicated to agriculture. Everyone seems interested in medical research. This is what is unique about Metahelix," said Padmanabhan.

The founders of Metahelix have a combined experience of 100 years in academics and in the life science industry.

Indo-Asian News Service

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