Vanta Bioscience announces foray into clinical research

Vanta Bioscience, which is in the business of pre-clinical services, informed the bourses about the company's foray into Clinical Research through its wholly-owned subsidiary.

Major activities covered under the clinical services include bio-equivalence studies in healthy human volunteers, patient volunteers, bioanalytical services and clinical trials from Phase I to Phase IV.

The company stated that clinical research business will hit top-line from the last quarter of the ongoing financial year. The company is expecting to add a revenue of Rs. 250 crores in the fifth year through clinical research services.

Market size for Clinical research services is worth US$ 64 billion and contributes nearly 40 per cent of the revenues of clinical research organisations (CROs), globally. Apart from the US & Europe markets, China is emerging as an attractive market for these services as CFDA (China Food & Drug Administration) is opening up to accept foreign clinical data for products to be registered in China. This is likely to open up huge opportunities for Indian CROs.

With this positive development, the stock of Vanta Bioscience opened gap at Rs. 85 per share, up by almost 5 per cent from its previous close of Rs. 81. At 14.54 hours, the stock was trading at Rs. 84.1 per share, up by almost 3.8 per cent, on Monday.