Hyderabad, September 18, 2024: IKP Knowledge Park, witnessed the inauguration of two cutting-edge facilities – Laurus Labs and 3GV – and the groundbreaking of Biopolis, a research campus. The park played a pivotal role in the significant expansion of Telangana’s life sciences sector on Monday.
These new developments, representing a combined investment of over Rs 3,000 crore, are expected to create more than 10,000 new jobs in the region. The inauguration underscored the Telangana government’s commitment to making Genome Valley a global hub for life sciences innovations.
During the event, Minister for IT, Industries and Commerce D. Sridhar Babu engaged in discussions with key industry leaders from companies like Syngene, Biological E, and JAMP Pharma. He proposed infrastructure upgrades, including a common effluent treatment plant, new road networks, and improved sanitation and aesthetics for Genome Valley. The minister encouraged industry partners to contribute to these efforts, ensuring that Genome Valley not only functions smoothly but also maintains world-class standards.
Laurus Labs: A Major Expansion at IKP Knowledge Park
The newly inaugurated Laurus Labs facility at IKP Knowledge Park is a major pharmaceutical company engaged in developing active pharmaceutical ingredients (APIs) and formulations. In partnership with KrKa, a European company, Laurus Labs is investing Rs 2,250 crore over the next four years to establish a manufacturing facility and expand its R&D capabilities. This expansion is expected to create 2,800 new jobs.
Satyanarayana Chava, the founder and CEO of Laurus Labs, expressed his enthusiasm for the new facility, stating, “This is our fifth R&D center, and we believe it will empower us to develop groundbreaking solutions that address unmet medical needs.”
3GV: A Sustainable Life Sciences Facility
3GV, another Sustainable Life Sciences Facility in the Genome valley inaugurated, is a multi-tenanted life sciences facility spanning 150,000 square feet. It is the world’s first EDGE Advanced certified life sciences facility, demonstrating its commitment to sustainable infrastructure. With an investment of Rs 105 crore, 3GV is expected to create over 1,000 new jobs.
Biopolis: A Hub for Innovation
Minister Sridhar Babu also broke ground for Biopolis, an 8.5-acre research campus. This facility will create one lakh square feet of advanced lab spaces to foster collaboration among research organizations, pharmaceutical giants, and startups. Biopolis is expected to generate 6,500 new jobs and represents an investment of Rs 700 crore.
The inauguration of these new facilities and the minister’s focus on infrastructure development and industry collaboration highlight Telangana’s strategic approach to becoming a global leader in the life sciences sector. IKP Knowledge Park’s role as a catalyst for growth and innovation in this sector is evident.
