Report: Indian Bioinformatics Market to Hit $20M by 2006
A recently published report from Mumbai-based investment bank Avendus Advisors predicts that the Indian bioinformatics market will grow to approximately $20 million in 2006.
The report’s authors base their calculations on a 2002 report from Front Line Strategic Consulting that pegged the worldwide bioinformatics market at $697 million in 2001 and projected it to increase at a compound annual growth rate of 20 percent to reach an overall market size of $1.7 billion by 2006.
Avendus suggests that “Indian players will have to leverage upon the lower costs of infrastructure and human resources” to succeed in bioinformatics. While “the cost of setting up and running a bioinformatics company in India is a fraction of the cost in the US,” the report points out that convincing US-based pharmaceutical companies to outsource their bioinformatics processes to India could prove to be a challenge.
Bioinformatics players in India profiled in the report include Accelrys’ Indian operations, Avestha Gengraine Technologies, Cytogenomics, Genotypic Tech, Jubilant Biosys, Kshema Technologies, Metahelix, Ocimum Biosolutions, Strand Genomics, and SysArris.
IU Builds Centralized Life Science IT System
Indiana University and IBM are designing an information system at the IU School of Medicine to help researchers share biomedical data.
The so-called Centralized Life Sciences Data (CLSD) system is built on IBM’s DiscoveryLink, and will integrate public data sources with in-house data at the IU School of Medicine. The CLSD also uses software developed at the IU Center for Medical Genomics and the University Information Technology Services group.
New software developed as part of the CLSD will enable complex calculations of genetic similarity using a database query command. The results of these calculations can then be integrated with the results of database queries, according to IU.
The CLSD runs on IU’s recently expanded IBM SP supercomputer at the Indiana University-Purdue University campus. Through a Shared University Research award from IBM, IU has also received an IBM TotalStorage 7133 Serial Disk System with around a terabyte of disk storage.
The Indiana Genomics Initiative provided funding for the CLSD.
Compugen Sells Bioccelerator Line to Start-up
Compugen said last week that it plans to transfer its Bioccelerator line of accelerated similarity search products to Biocceleration Ltd., a bioinformatics startup headed by Compugen founder Simchon Faigler.
Compugen will transfer the product line by the end of August “in exchange for certain fixed payments during approximately the next two years and for royalties from future sales of this product line and any future products based on the Bioccelerator intellectual property,” the company said in a statement.
“By transferring the Bioccelerator product line, we are strengthening Compugen’s focus on our two primary commercialization channels: high-end platforms and services that we offer to leading biopharmaceutical companies, and discoveries based on our own internal research,” said Mor Amitai, president and CEO of Compugen, in a statement.
Simulations Plus Reports Record Q3 Growth, Launches New Software
Predictive ADME software firm Simulations Plus last week reported $1.3 million in third-quarter revenues, a 12.5 percent increase over the year-ago period and “an all-time quarter record,” according to Momoko Beran, CFO.
The company also launched a new software product, QMPRchitect, which allows researchers to build predictive ADME models from their own data.
For the quarter ended May 31, 2003, the company reported R&D costs of $73,801, down from $94,929 in the third quarter of 2002, and net income of $226,988, up from $109,037 reported a year ago.
As of May 31, the company had cash and cash equivalents of $103,600, with total assets of $1.2 million, including $845,164 in accounts receivable.
Accelrys Partners with Formation Systems
Accelrys last week announced a global distribution and co-marketing agreement with product development software firm Formation Systems.
Under the terms of the agreement Accelrys will license Formation’s Optiva product development software to market with its early-stage research and development software.
“We can now offer our collective customer base a comprehensive solution for managing formula-based products through the entire product lifecycle,” said Mark Emkjer, president of Accelrys, in a statement.