JUNE 20249TOP STORIESDR. REDDY'S LABORATORIES ESTABLISHES NEW BIOLOGICS FACILITY IN HYDERABADSBI & MUTHOOT MICROFIN TO FINANCIALLY SUPPORT WOMEN ENTREPRENEURSDr. Reddy's Laboratories announced that its contract research, development, and manufacturing organization (CRDMO) arm, Aurigene Pharmaceutical Services Limited, has inaugurated a new biologics facility spanning 70,000 sq ft in Genome Valley, Hyderabad. The facility aims to serve customers with process and analytical development and small-scale manufacturing of antibodies and other recombinant proteins for preclinical and early-phase clinical requirements.According to Dr. Reddy's, the process and analytical development laboratories are now operational, and the manufacturing capacity commissioning will be completed later in 2024. The new facility complements the company's current discovery capabilities and infrastructure, focusing primarily on recombinant proteins, including mAbs, bi- and multi-specifics, immune-fusion molecules, antibody-drug conjugates, and other complex proteins.The newly opened facility will provide robust, compliant, and economically viable cell lines, process development solutions, and supporting analytical methods to help customers enter and progress through clinical development rapidly.Dr. Reddy highlighted that the opening of this latest facility is one of multiple strategic initiatives that Aurigene is implementing to support rapid growth in both the small molecule and biologics spaces, as illustrated by recent announcements related to AI/ML-led drug discovery in small molecules and a collaboration with Vipergen, a DNA-encoded library (DEL) technologies service provider.Aurigene CEO Akhil Ravi expressed that the addition of new capacity and capabilities will enable Augiene to efficiently serve global customers and support the development of innovative medicine. Muthoot Microfin announced a strategic co-lending partnership with the State Bank of India on June 6th to extend its financial services to women in the economically weaker segment in rural and semi-urban regions across India.Muthoot Microfin and SBI will co-lend to members of joint liability groups engaged in agricultural and allied activities and other income-generating enterprises. Muthoot said the loan amounts will range from Rs 10,000 to Rs 3 lakh."To take financial inclusion to the next level, we have collaborated with the largest bank, i.e. SBI. I am convinced that with this partnership, we will be able to offer a wide range of products and services to our clients, most importantly it will help us in meeting the growing demand of our women entrepreneur clients cost-effectively," Muthoot Microfin's chief executive Sadaf Sayeed said.The Kochi-headquartered micro lender serves about 3.35 million active customers through 1,508 branches across the country. At the end of March, its gross loan portfolio stood at Rs 12,193.50 crore.
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