Reliance Life Sciences expand globally

Mumbai, Apr 26 (UNI) Making its first investment in bio-venture capital, Reliance Life Sciences (RLS), has become a strategic partner in MPM Capital, a US based global management firm in the field of biotechnology.

Part of Mukesh Ambani promoted Reliance group, RLS has become a partner with a lions share of investment in the MPM bioventure which will invest in select emerging life science companies in US and Europe for co investment opportunites.

The bioventure plans to bring about a new framework for fostering innovation by synergizing enterprise and discovery capabilites outside India.

Addressing mediapersons at RLC campus in New Mumbai today, K V Subramaniam, President of RLS said ''This investment is aimed towards extending the footprint of RLC to the overseas biotech market, and by working with MPM we believe the partnership can also enable a vibrant life sciences sector in India.'' MPM has 80 biotech companies in it's portfolio and mainly invests in research and development companies worldwide in the field of life sciences.

Both the companies will also explore investments in Indian based companies with a focus on more conventional pharmaceutical products including molecular diagonistics, biosimilars and stem cells.

UNI