InterVein Labs to set up China subsidiary

Ahmedabad-based InterVein Laboratories, which caters exclusively to clinical trial samples, is planning to set up a subsidiary in China next year.

The company is looking to target the clinical trials market in Asia through the subsidiary.

"We want to expand our presence throughout Asia. We will look at forming this subsidiary on our own or in partnership with another company," said Shivprakash, managing director of InterVein Labs.

He added that the subsidiary would offer high quality testing and safety operations. While details are yet to be worked out, company officials are looking at investing $2 million (Rs 8 crore) to $5 million (Rs 20 crore) in the venture.

Funding, in all probability will be through the private equity route. "We might look at offloading up to 30 per cent of stake for private equity when required," added Shivprakash.

The company has clients across countries including US and UK. Its focus is mainly on organised project management.

Having commenced operations in 2006, the company offers customised services including logistics, kit management, data management and archiving for clinical trials. It works in the areas of biochemistry, endocrinology, infectious disease serology, co-agulation and auto-immune profiles among others.

Earlier this year, the company had signed a memorandum of understanding (MoU) with Bangalore-based D2L Pharma Research Solutions for providing solutions to the clinical research industry.

Under the MoU, the companies are planning to provide a fully integrated platform for pharmaceutical companies and clinical research organisations (CROs) from site management solutions to clinical lab testing.