Alexandria Real Estate sets up Rs 500 million biotech R&D centre in Gujarat

Alexandria Real Estate, a US-based life science solutions provider, is planning to set up  industry, has decided to set up a Rs 500 crore biotech research and development (R&D) and incubation facility in Sanand, in Gujarat, western India.

Alexandria has applied for 25 acres of land with the government of Gujarat for building the infrastructure for the facility. Alexandra’s biotech research and development (R&D) and incubation facility will be located near the Tata Motors’ Nano project in Sanand.

Alexandria intends to spend up to Rs 500 crore for the project, reports said quoting officials from the company.

Alexandria’s venture in the emerging biotech space in Gujarat is expected to attract large number of investors in the biotech and health segments to the state.

Alexandria’s biotech research and development (R&D) and incubation project has the potential to develop a complete biotech park in the area.

Alexandria has also agreed to put up its facility on the condition of zero discharge of effluents.

Alexandria supplies all necessary equipment for R&D in biotech, including fermenters, centrifuges, autoclaves and costly NMR research equipment for facility.

Alexandria’s clientele includes universities and independent not-for-profit institutions government agencies.

Currently a similar proposal from India’s leading biopharmaceutical player Biocon, is pending clearance from the Gujarat government.

France’s Biolice has also reportedly tied up with an Indian firm to produce cent per cent degradable bioplastic in Ahmedabad.

Alexandria Real Estate Equities, Inc., a real estate investment trust (REIT), engages in the ownership, operation, management, development, acquisition, and redevelopment of properties for the life sciences industry.

Its properties consist of buildings containing scientific research and development laboratories, and other improvements.

Alexandria Real Estate offers its properties for lease primarily to universities and independent not-for-profit institutions; and pharmaceutical, biotechnology, medical device, life science product, service, biodefense, and translational research entities, as well as governmental agencies. As of December 31, 2006, it had 159 properties, including 156 properties located in 9 states in the United States and 3 properties located in Canada. As a REIT, the company is not subject to federal income tax to the extent that it distributes 100% of its taxable income to its stockholders. The company was founded in 1993 and is based in Pasadena, California.

Alexandria Real Estate major tenants included Novartis AG, ZymoGenetics, Inc., Human Genome Sciences, Inc; GlaxoSmithKline, Massachusetts Institute of Technology, Theravance, Inc., Genentech, Inc., Amylin Pharmaceuticals, Inc., Amgen, Inc., and Senomyx, Inc.