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INCOR Group Buys Stake in Renovis Pharma to Form a New JV INCOR Renovis; Aims to Develop Cost Effective and Green Technologies for the Indian and Global Pharmaceutical Industry

INCOR Group Buys Stake in Renovis Pharma to Form a New JV INCOR Renovis; Aims to Develop Cost Effective and Green Technologies for the Indian and Global Pharmaceutical Industry

June 27, 2022 2:36 IST | Business Wire
Business Wire India

Dr. Aman Iqbal, Chief Executive Officer, Incor Renovis
Dr. Aman Iqbal, Chief Executive Officer, Incor Renovis

Hyderabad based conglomerate INCOR Group and Renovis Labs, promoted by Prof. Javed Iqbal - country’s esteemed scientist, have entered into a new JV ‘INCOR Renovis’. The new company will focus on developing cost effective and green technologies in the areas of Human health, Animal health and Agriculture and will work towards making India self-reliant in manufacturing medicines under the AatmaNirbhar Bharat Abhiyan.
 
One of the major problems highlighted by the COVID-19 pandemic was India’s increased dependency on China for raw materials and APIs (for essential medicines). Over the last few decades, Indian Pharma companies have struggled to develop technologies for the raw material or the intermediates, which are superior to the Chinese technologies in terms of cost, scalability, and quality and environmentally friendly. 
 
In order to counter this major problem and reduce the dependency on China, INCOR Renovis Pharma has come up with a new innovative methodology wherein it uses a combination of chemical, biological and engineering solutions to create high quality, cheaper and safer medicines. The second major goal of the company is set out to achieve in its 10-year long term plan of reducing carbon emissions associated with drug production and pharmaceutical development processes. The company plans to use automation in manufacturing to realise this vision and is in the process of filing numerous patents for its inventions and discoveries.
 
Dr. Aman Iqbal, Chief Executive Officer, Incor Renovis said, "We are excited to work together to make India Self-reliant on Pharma Raw material and protect the environment."
 
INCOR Renovis is building a directed evolution technology platform to solve chemical process challenges and also developing a microbiology platform to generate basic chemicals. It is further automating chemical R&D and manufacturing to reduce time, cost and manpower requirements in the entire process. 
About INCOR Group
 
INCOR began its journey in 2006, recognizing a huge need gap in the way real estate was being approached in India. The vision turned reality almost immediately, attracting a partnership with two well-known Israeli companies resulting in the formation of PBEL Property Development (India) Pvt Ltd. Over the years INCOR has expanded its presence in Telangana, Andhra and Karnataka and has developed over 40 million sqft and has 30 million sqft under development, including commercial and residential projects. INCOR began its foray into healthcare with OMNI Hospitals in the year 2010. OMNI has, since then, grown to a chain of 6 hospitals operational across Andhra Pradesh and Telangana. In the last few years, OMNI has diversified its presence by incubating multiple startups in hospitality, wealth management and mental health.
 
INCOR’s businesses have been formed on three pillars: accessibility, affordability, and accountability. We strive to ensure every citizen has access to good housing and healthcare, that he/she is able to afford. Accountability of great outcomes lies with us and is monitored closely.
 
Visit www.incor.in to know more about INCOR Group
 
About Renovis Labs
 
Renovis Labs is founded by Prof. Javed Iqbal, FNA, advisor and member of various Central Govt. Committees and panels. Renovis has developed numerous technologies since its inception and have been supporting the general Pharma ecosystem in technology related challenges. The challenges faced by the Indian Pharma Industry during COVID prompted promotor Prof. Javed Iqbal to scale the efforts for real impact.
 
The Industry realized the huge dependency for Raw Materials and Chemicals on China by large volumes and value. This is where it all started with the mission to make India self-reliant for all Raw Materials under the aegis of Aatma Nirbhar Bharat. Renovis invested resources on products that no other/few Indian Companies are manufacturing with focus on disruptive processes and technologies.
 
Renovis has a strategic partnership with manufacturing facility at Zaheerabad with a 80kL capacity and proposing to expand to 180kL, which covers a portfolio of intermediates of Anti-Cancer, Critical care and Pain related APIs. The company is venturing into Flow Chemistry, Hardware development, Bio Technology for enzymes and catalysts as solutions, which can create disruption in the Pharma Raw Materials and Chemicals market. The company has identified Key Starting Materials of blockbuster APIs whose volumes are more than 10,000 tons a month imported from China and products with a market of more than USD 750 million. Renovis owns more than 35 API Technologies and more under development. https://renovis-labs.com/

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