The company will utilize this facility to commercialize world’s first highly-accurate non-invasive diabetes tests
Hyderabad, March 7th, 2018: DiabetOmics, a global medical diagnostics company that is developing the world’s first patented non-invasive, saliva-based diabetes monitoring test has opened its first manufacturing facility in Hyderabad. Hon’ble Minster for IT, Municipal Administration & Urban Development, Industries & Commerce, Public Enterprises, Shri.K.T.Rama Rao inaugurated this facility on Saturday. DiabetOmics will utilize this facility to commercialize their highly accurate, easy-to-use, bluetooth-enabled and non-invasive diabetes point of care (POC) tests and maternal health tests in India and around the world. Ventureast invested about 4 million in DiabetOmics in 2015.
This new facility, which is situated in a three acre plot in Muppireddipally will directly employ about 100-120 people. The overall capacity of the plant will be to produce 8-10 million test strips a year and 10,000 to 15,000 assembled readers to begin with. The company has completed construction of their world-class manufacturing plant and the technology transfer from USA. The commercial production is expected to begin in the next quarter this year and will target the Indian and European markets.
The global burden of diabetics is over 375 million, with India (72 million) and China (109 million) as major epicenters for diabetes. Dr. Srinivasa Nagalla, CEO of DiabetOmics Inc., said “We are pleased to bring these innovative diagnostic tests to the market beginning later part of this year which will be a huge paradigm shift for the patients around the world particularly for emerging countries like India where the affordability of quality care is a major burden for many low income families”.
In addition to saliva-based diabetes tests, the company is currently developing point-of-care tests for rapid screening of Type I diabetes and early detection of diabetic kidney and eye complications. Across the world, it has been identified that Preeclampsia is the second leading cause of maternal death and gestational diabetes which is a common prenatal complication affecting 16 percent pregnancies.
Mr. Venkatadri Bobba, Director- DiabetOmics & General Partner, Ventureast said, “DiabetOmics has come a long way from the discovery of the Salivary Glycoproteins as the best biomarkers for Glycemic Index to product and Bluetooth-enabled readers. The new plant will be in full compliance with global regulatory requirements and will showcase high quality and low cost manufacturing capabilities of our highly qualified & well trained staff and the ecosystem enabled by the State of Telangana. Most importantly, it is gratifying to note that many patients and their families could benefit from our innovations beginning later part of this year.”
Dr. Varaprasad Reddy, Founder Shantha Biotech and Chairman Diabetomics India said, “We are excited that our manufacturing facility has been built, technology transferred, within months of getting the CE Mark (European approvals) and start supplying the products to the needy patients in just about 2 years from the date of laying foundation stone in Feb 2016. We are happy to bring this innovative non-invasive testing which is free of pain and patient friendly to the market.”
About DiabetOmics
DiabetOmics is a wholly owned subsidiary of Diabetomics, Inc. based in Portland, Oregon, USA has developed a patented non-invasive, saliva-based diabetes monitoring test for diabetes patients and an early detection test for gestational diabetes (in pregnant women) and pre-eclampsia (high blood pressure in pregnant women). The company seeks to disrupt the market by doing away with the conventional diabetes monitoring process which involves a finger prick to get a small blood sample. This dissuades those suffering from diabetes and potential patients from testing their sample. Recognizing the company’s pioneering work, Helmsely Trust based in New York City, USA with committed interest in improving the wellbeing of Type 1 Diabetes, has invested $4MM as a low interest grant for making the product available for wider use among the TYPE 1 Diabetics.
About Ventureast:
Ventureast is one of the longest standing Venture capital fund managers in India, investing since 1997 and managing close to $400+ million. The company has a diverse portfolio of more than 100 investments in Technology, Healthcare and Clean Environment. Ventureast is possibly the only Indian Fund Manager that has dedicated funds and teams for each sector- life sciences & healthcare, and separately for technology driven businesses. Our hallmark has been to build companies to leadership from early-stage through innovation. For more information, visit http://www.ventureast.net/
