'India Loses Out On Innovation Quotient'

Kiran Mazumdar-Shaw on the need for an ecosystem where VCs invest in life tech enterprises and why some Indian startups prefer a presence in the mature US market

- HaricHandan arakali

Q Through the many decades of building Biocon, what has held you in good stead?

I would attribute our success to a laser sharp focus on being a differentiated biopharmaceutical company and enduring the long gestational process of getting to the end points. It has also involved a high regulatory and investment risk profile which has enabled us to build a growing risk management capability. We have seen several competitors dropping out given the gruelling obstacles of regulatory and investment risks. We have also displayed resilience in addressing setbacks. And we have had the courage of our conviction to withstand criticism and scepticism.

Additionally, we have invested significantly in research infrastructure and building high-end scientific talent. Quality and compliance have also been a strong focus, driving a culture of continual improvement. We have also pursued a model of striking strategic partnerships to manage risks and bridge near-term experience gaps.

Q Would you say that the next stage is to see the company irrevocably commit to novel drug discovery?

Well, Biocon’s biologics journey started with novels. We were the first company in India to develop a new biologic and take it from lab to market. BIOMab EGFR/ Nimotuzumab was our first novel monoclonal antibody for cancer, which was launched in India in 2006.

This was followed by a second novel antibody, ALZUMAb™, the world’s first novel anti-CD6 monoclonal antibody, Itolizumab, in India, for psoriasis in 2013. This antibody has been licensed to a US biotech company, Equillium, which recently listed itself on Nasdaq to pursue several orphan indications in immune mediated diseases.