Stone laid for S'pore-India hub for tech at AMTZ
Neudome Peptides Pte Ltd, a Singapore-based company that specialises in peptides-based applied technologies for medical diagnostics and therapeutics has laid the foundation stone for its facility to launch first of its kind wallet-friendly Covid diagnostic kits which gives results within a few minutes.
image for illustrative purpose
Visakhapatnam: Neudome Peptides Pte Ltd, a Singapore-based company that specialises in peptides-based applied technologies for medical diagnostics and therapeutics has laid the foundation stone for its facility to launch first of its kind wallet-friendly Covid diagnostic kits which gives results within a few minutes.
The facility is coming up at the Singapore-India Hub for Technologies (SIGHT) at AP MedTech Zone in the city.
It is one of the first companies to be part of the hub. The firm also has plans for production of devices for giving instant diagnosis of cardiovascular problems.
Dr Rajani Kanth Vangala, founder and Ravindran Govindan, co-founder of the firm, said on Thursday that they are starting the facility with an investment of $1 million initially to start production by December. They said they will take the world by storm with highly reliable handy diagnostic kits.
The firm with R&D, developed indigenously a device named RUCov-Flow- a kit costing around Rs.150 for easy to handle saliva-based detection of SARS CoV-2 virus. The results will be known in three to five minutes. This is ultra sensitive and has high accuracy with RT-PCR standard. Vangala said the kit has been validated by ICMR and they will be starting commercial production with a daily production of 10 million. He said it has already received huge demand for supply from within and outside the country.
The company, which has developed breath and suction-based detection of SARS virus for high traffic and mass detection of the virus, is awaiting validation from ICMR, FDA and HSA.
MRI manufacturing
Govindan, who is a Singapore-based venture capitalist, said Time Medical Systems has already invested in a MRI manufacturing unit at AMTZ- which is for the first time in India with an investment of USD 10 million.
He said they will launch commercial production from December with each MRI costing around $280,000 to $300,000. This is cost effective compared to MRI machines manufactured by Siemens and GE.
