Discovery services firm TCG Lifesciences (TCGLS) says its partnership with Mantrax Ventures “opens door” to Australian contract research sector.
Under the new collaboration, Mantrax will market the Indian contract research organisation (CRO) to Australia’s bioscience and pharmaceutical industries from its base in Melbourne, Victoria.
These marketing efforts will focus on the promotion of TCGLS’ Chembiotek, discovery, Clininvent, research solutions, and Lab Vantage, enterprise informatics, divisions to groups seeking to further the development of biotech intellectual property.
A TCGLS spokesperson told Outsourcing-pharma that Mantrax is a “strong player” with a proven track record of facilitating alliances between India, Australia and Japan.
She went on to explain that the high level of competition from Indian and Chinese CROs targeting the region’s drug research sector was a key motivation for the collaboration.
“TCGLS stands a much better chance of gaining some traction by partnering with people who are already known and trusted and have extensive networks within the Australian and New Zealand biotechnology industries.”
But, despite the competitive nature of the market, TCGLS believes that it still represents a significant business opportunities, particularly for early-stage development projects.
“It is well known that many Australian companies have more IP than they have the resources to exploit and many Australian companies are struggling for funding.
“By outsourcing research work to TCGLS they will be able to exploit this IP for a lot less money than it would cost in Australia without compromising quality and without giving away any ownership of the IP.”
The choice of Melbourne as a base of operations for the new partnership is also likely to benefit according to Victoria State innovation minister Gavin Jennings.
He said that: “Companies like TGCS Lifesciences are choosing Victoria as an entry into Asia Pacific because of our high quality infrastructure, support for the biotechnology sector and our strength in research and development.”