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Irish biotech body signs MoU with ABLE

India ’s Association of Biotechnology-Led Enterprises (ABLE) and the Irish BioIndustry Association (IBIA) have signed a memorandum of understanding (MoU) in an effort to improve collaboration in biotech sectors.

The agreement was signed in Bangalore on 17 th January, 2006 and is expected to open up potential partnerships in research and commercialisation as well as supply opportunities for Irish and Indian companies alike as the Indian biotech industry has touched the $1 billion figure mark.

Ireland ’s growing biotech sector has witnessed Euro 3 billion investment and employs nearly 3,000 people. The Irish government is expected to invest Euro 72 million in a National Institute for Bioprocessing, Research and Training this year.

The Irish pharmachem sector is worth over Euro 37 billion and employs about 24,000. Nine of the top 10 global pharmaceutical companies operate out of Ireland.

Speaking at the signing ceremony, IBIA chairman Cormac Kilty said, “I believe, we have much to learn from each other and tangible benefits will flow eventually.”

Out of today’s agreement as it bears many similarities to the Irish experience.”

Kiran Mazumdar Shaw, president, ABLE said, “My ties with Ireland go back several years and I am pleased that ABLE and IBIA are coming together to synergise the biotech strengths of our respective countries. Biotechnology is a growing industry both in India and in Ireland and I am confident that with this agreement we have taken a step towards potential collaborations and knowledge sharing between the two countries.”

IBEC’s director, Matt Moran said, “ India is strong in pharmaceutical, just like Ireland, and it is trying to develop biotechnology, just like Ireland as well. It makes a big sense to partner together and help each other take the lead. It is now our intention to work actively with our Indian counterparts to achieve the aim. I look forward to a very productive relationship.”

(www.business-standard.com)

 
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