UR Advanced Therapeutics to set up mfg unit in Hyd

Hyderabad: IT and infrastructure sectors among few others are considered to be investor friendly industries. Startups from the life science, biotech and related sectors are eagerly seeking investments. Most of these startups are working on developing novel solutions and adopting strategic business decisions by introducing commercially viable products to keep their research work self-funded.

Working on same lines, City-based UR Advanced Therapeutics Private Limited (URAT) recently announced the launch of cell death detection kits at a price of around Rs 20,000 each while the competitors sell for Rs 30,000 – 40,000. For its mass production, the startup plans to set up a manufacturing unit in Hyderabad and expand its team. “For small-scale production of cell death detection kits, we had utilised the facility of a third party manufacturer. As we are entering mass production, we are looking to establish our own facility in Hyderabad. Initially for research purpose, and to reach the global market, we will produce around one lakh kits. For setting up our manufacturing unit and expanding the team, we plan to raise Rs 20 crore. We will hire 25-30 employees including scientists and business professionals,” URAT CEO & CSO Jaganmohan Reddy told The Hans India.

The cell death detection kit is ready for launch. It consists of a small effective 15 amino-acid molecule that mimics the function of Annexin V, detecting dying cells in human body. Initially it will be supplied for research purpose to R&D companies/labs and drug discovery pharma companies. The second line of work is related to tissue engineering, also called, organ regeneration. Wherein, the startup is developing specific small peptide-based formulations for each and every specific organ which can be used for 3D printing. The tissue engineering kit will take another six to eight months to enter the market as the pre-clinical and animal trials are pending. Trials for the cell death detection kit will take place by 2025.

Reddy further said that handful of startups enter pure innovation and work towards futuristic technologies, while most of them are focused on producing generic products. “We are particular about developing novel products and come with innovation that can compete at a global level. Now, we have come up with products that can be commercialised immediately. Several products in the pipeline will be launched over the next three years. Once we have definite commercials, we will infuse entire revenue into the startup for developing much more advanced products which can generate revenue probably after seven to 10 years.” The size of cell death detection market is Rs 100-150 crore. URAT targets Rs 10 crore in revenue in the first two years. Over the next three – four years, the startup eyes $10-20 million business with the launch of their kits in the international market.

URAT is incubated at ASPIRE-BioNEST, University of Hyderabad and is supported by seed fund from Startup India and BIG grant from BIRAC. URAT is also a recipient of IKP Fellowship. The startup received a total of Rs 1 crore from two grants and raised Rs 3 crore from friends and family, as working capital.