Asia, Novotech, the largest Australian Contract Research Organization (CRO) will set up operations in Mumbai, India with an investment of Aus $8 million.
Asia, Novotech, the largest Australian Contract Research Organization (CRO) will set up operations in Mumbai and office will be the first Asian operations for Novotech to be operational by the end of this year.
According to Mr. Alek Safarian, CEO, Novotech the company’s US clients are looking at entering Asia, and so offering a seamless operation serves a growing client base from the Australian and American regions.
Novotech is highly regarded in the US and the EU for managing the Australasia/Asia Pacific component of global trials, and a stronger presence in Asia would further guarantee the Novotech stamp of excellence in high standard, speed, efficiency, and reasonable cost trials.
In India, the company will initially focus on clinical trials mainly the phase II and III with two staff. But are also planning to expand our operations in India by increasing the head count to 25-30 and also expanding the operations to data management.
Novotech’s successful expansion in the US has brought in two leading biotech venture firms BioPacificVentures and Co-Investor Capital Partners as investors in the company and as backers of its overseas expansion plans. With the investors support, Novotech, the recipient of the Frost & Sullivan Asian CRO of the Year 2006 – Australia Award and a winner of the Deloitte Fast 500 Asia Pacific 2006 program, is looking to Asia as part of its corporate development.