Mumbai (Maharashtra) [India], May 26: TechInvention Lifecare Pvt. Ltd., a Mumbai-based biotech start-up, has entered into a strategic collaboration with Reagent IVD Resources Pvt. Ltd. (RIVDR), a Jaipur-based diagnostics-focused start-up, for the development and manufacturing of a comprehensive range of diagnostics. The portfolio would encompass human as well as veterinary segments for global supplies.
While TechInvention Lifecare has developed a portfolio comprising extraction kits, rapid point-of-care, and molecular diagnostics for infectious diseases, RIVDR is into the manufacturing and distribution of biochemistry and chemiluminescence kits. There are also a few high-potential novel products in the pipeline, primarily for zoonotic diseases and WHO Critical and High Priority-listed pathogens with antimicrobial resistance.
'This collaboration is well aligned with the mission of 'Make in India, make for the World',' said Syed Ahmed, CEO of TechInvention Lifecare.
India is the fastest-growing medical device market among the emerging markets. The current market size of the medical devices industry in India is estimated at USD 11 billion and with India's contribution in the fight against the COVID-19 pandemic, the country's medical devices sector has gained even more prominence. The export of medical devices sector has been growing at a CAGR of 9.37 per cent over the last 5 years and is expected to reach ~ USD 10 billion by 2025.
'With a robust complementary portfolio of each, we foresee synergy enabling high-quality, novel, and affordable diagnostics in India and other global markets,' said Madhur Mohan Goyal, MD of RIVDR.
TechInvention is a certified "DeepTech Pioneer" startup pursuing one-health with innovative multipronged biosolutions. We are determined to enable access to affordable and efficacious essential novel vaccines, biotherapeutics, and diagnostics targeting infectious diseases in developing countries. TechInvention aims to support manufacturing capacity-building projects and also provide technology that is compliant and affordable.
RIVDR is a company engaged in manufacturing of In-vitro Diagnostics (IVD) and life science reagents. We are contract manufacturers offering innovative manufacturing solutions for disruptive changes in the diagnostic sector. RIVDR is passionate about providing our customers with the most appropriate solutions using our products and services and providing these with the utmost care for quality.
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