Chemveda Life Sciences To Add 500 More Jobs And Invest USD 20 Mn For Expansion In Hyderabad.
Hyderabad and San Diego, headquartered Chemveda Life Sciences, a mid-sized contract research organization, that provides solutions to the pharmaceutical, biotechnology, agrochemical industries, and academia, announced the expansion of its footprint in Hyderabad.The company’s President & CEO Dr. Bheema Rao Paraselli and its Advisors, Prof. Phil S Baran, and Prof. Jin-Quan Yu (Professors of Chemistry, Scripps Research Institute) met Hon’ble Minister Mr. Rama Rao and briefed him about the expansion plans. Mr. Jayesh Ranjan IAS, Principal Secretary, Industries and Commerce Dept., and Mr. Shakthi M Nagappan, Director Lifesciences, Government of Telangana were also present during the meeting.
“Hyderabad is one of the most preferred global destinations for Pharma and Biotech companies to seek contract research support. We feel privileged to be a part of one of the most cost-competitive and extensive ecosystems to run life sciences R&D” said Dr. Bheema Rao Paraselli, President & CEO, Chemveda Life Sciences. “Our vision to be a smart market challenger is not only supported by our Indian and Western-trained scientists, but also by the thought leaders like Prof. K. C. Nicolaou, Prof. Phil S Baran, and Prof. Jin-Quan Yu” he added.
In the last 5 years, with two R&D sites, an area of over 65,000 sqft, and a manufacturing facility spread over 8 acres Chemveda Life Sciences has expanded from 45 employees in 2017 to over 450 employees. They highlighted that they are seeing a lot of growth opportunities further in Hyderabad because of the growing life sciences industry. Chemveda Life Sciences will now invest an additional INR 150 crores (USD 20 Million) to add a state-of-the-art R&D center in Hyderabad with around 200,000 sqft, creating additional employment for 500 scientists. They have already received funding of INR 90 crores (USD 12 mn) and another INR 60 crore (USD 8 mn) is committed funding. The company announced that it will add a GMP facility with a 200 KL capacity.
Chemveda is also validating some of the game-changing scientific platforms and technologies developed at the Scripps Research Institute (ranked one of the top institutes in the world for innovation), which will allow the Pharma and Biotech companies to make molecules much simpler and faster than the conventional methods. Hon’ble Minister Mr. K.T Rama Rao said, “Hyderabad has become the most sought out destination for life sciences companies to establish their R&D centers and I am extremely happy to see companies like Chemveda Life Sciences scale their footprint in Hyderabad. I am delighted to see the industry benefitting from the active research ecosystem, progressive Government policies, abundant talent pool, in Hyderabad and we will continue to boost the R&D initiatives in the state further”
About Chemveda Life Sciences
Chemveda Life Sciences is a mid-sized, fast-growing solution provider to the pharmaceutical, biotechnology, agrochemical industries, and academia. For over 14 years, Chemveda is boosting its value creation along and beyond the drug discovery & development continuum, with an emphasis on churning out cost and timeline efficiencies for its global clientele. Its integrated solutions include lab-scale synthesis, process R&D, and large-scale custom development of drug substances, key intermediates, and starting materials across multiple chemistry classes.
Visit www.chemvedals.com for more details.
Head BD, and Corporate Communications