Vanta Bioscience Expands Into Clinical Research
Vanta Bioscience Limited, which is in the business of pre-clinical services, announced its foray into Clinical Research through a 100% subsidiary. The clinical research business will begin contributing to the top-line in the last quarter of the current financial year. The Company is projecting to add a revenue of Rs.250 crores in the fifth year through clinical research services.
Major activities covered under the clinical services include bio-equivalence studies in healthy human volunteers, patient volunteers, bioanalytical services and clinical trials from Phase I to Phase IV.
Clinical research services are a USD 64 billion business and contribute nearly 40% in revenues of clinical research organisations globally. Apart from the US & Europe markets, China is emerging as an attractive market for these services as CFDA (China Food & Drug Administration) is opening up to accept foreign clinical data for products to be registered in China. This is likely to open up huge opportunities for Indian CROs.
Explaining the opportunities, S. Venkat Rao, CEO of Vanta Bioscience Limited said, ”This is a step in offering fully integrated services to our clients. Our existing pre-clinical trials business will get a forward integration. Clinical research services will not only open doors for doing more business with our existing clients, there will be several stand-alone opportunities as well with our expansion into Latin America and Asia Pacific markets announced last week.”