DuBiotech to offer opportunities to FIs

Abdulqadar Al Khayat, executive director, Dubiotech, said the park and Frankfurt Biotechnology Innovation Centre (FIZ)signed an agreement recently to jointly develop life research, education, professional training and development of marketable products in the health sector.

Speaking at the Indo-Gulf Summit, he said India, which ranks third in Asia in patent filings and annual investments in the sector, can also invest in Dubiotech. 'Dubiotech will highlight the importance of biotechnology in our lives, industry, agriculture, healthcare among other. Regulations are being developed now and the new park will create the ideal conditions for encouraging scientific research and production in the biotech industry."

"The country's advantage is the speed and cost of research and development," one of the delegates participating at the Indo-Gulf Summit told Khaleej Times.

“India and UAE can co-operate and develop the bio-technology sector and achieve huge growth as there is huge potential in this sector," he pointed out.

India's biotechnology sector is currently made of four major segments, bio-industrial products such as enzymes and bio-fuel, bio-agricultural products such as genetically modified seeds, bio-fertilisers and bio-pesticides.

Also includes , bio-services such as contract research, contract manufacturing and clinical traits and bio-pharmaceuticals. Bio-pharma covers vaccines, therapeutics, diagnostics and animal health care . India's biotechnology sector is expected to grow to $ 1.45 billion in 2006 and $9 billion in 2007-08, of this , exports are likely to stand at about $ 4 billion."