International Stem Cell (ISCO.OB), Insight BioVentures establish Indian Affiliate
ISCO and Insight BioVentures India Private Limited (IBVI) have signed a letter of intent concerning funding and establishment of an Indian affiliate, ISCO India.
The goal is to establish development and manufacturing operations for ISCO’s research and pharmaceutical products in India, including its Lifeline Cell Technology research products and human corneal tissue, CytoCor, for treatment of corneal vision impairment and testing of chemicals.
IBVI is an experienced biomedical business facilitator with a solid network among Indian corporations, academia and government. In collaboration with Sristi Biosciences, a full-fledged developer, manufacturer and commercial operation and the therapeutic arm of Indian bio industry leader Sri Bio.
IBVI has established a dedicated Bio-fund to finance novel businesses in India. Under the letter of intent, IBVI will lead the funding and establishment of ISCO India with facilities and staff. ISCO will train Indian scientists and commercial staff and provide rights to the company’s technologies, products and intellectual property as needed.
ISCO India will be managed by a combined team of experienced development and business executives from IBVI and Sristi Biosciences in India and senior executives of ISCO in the US. ISCO India will be based in Hyderabad and continue to work closely with the leading team of ophthalmology scientists and clinicians at Sankara Nethralaya in Chennai as well as researchers and government bodies across India.
