AGOURA HILLS, Calif.--(EON: Enhanced Online News)--Semler Research Center Pvt. Ltd. (SRC), a leading Contract Research Organization based in Bengaluru, India, entered into an agreement with Excel Dwellings (EDI) for development of products. EDI will fund initially USD 5 Million which will be utilised for product development opportunities. EDI will work closely with SRC for development of products in regulated markets through an exclusive manufacturing and distribution partner.
Speaking on the occasion, Dr Krathish Bopanna, President & CEO, SRC, said, "This is one of the major and significant milestones for SRC. SRC was funded internally and we have grown significantly in the last three years. Our goals were to broaden our horizon and enter into highly challenging area of product development and move into collaboration versus just standalone services. This will also call for expansion of our clinical pharmacology unit (CPU) at Bangalore to facilitate and initiate research and development activities and on this front we have added an additional 34 beds and are currently awaiting regulatory approval."
Ravi Achar, Co-Founder & Director, SRC, said, "This investment from EDI will enable SRC to continue to expand and grow its revenue share model in product collaboration which is already in place with several US partners and will add significantly to the revenues and profitability of SRC in the coming years. We have in a short time established an impressive track record and I am excited that as a result it has now attracted new partnerships such as with EDI."
Vivekananda R, Director, EDI, said, "We have successfully invested in asset management and have grown substantially in this front. EDI had been on a look out to diversify its investments and we had the opportunity through our investment banking division 6th Sense Capital Advisors group to do some due diligence in the Pharma sector. We found an able partner in SRC and I am confident with SRC core expertise and the leadership, we will be able to accomplish the targeted goals."
About Excel Dwellings India Pvt Ltd (http://www.exceldwellings.com)
Excel Dwellings India Pvt Ltd is a company promoted by a group of technocrats from India and overseas. In a short span of time, this forward-looking company has carved a niche for itself in the demanding and dynamic real estate industry.
About Semler Research Center (http://www.semlerresearch.com)
Semler Research Center (SRC) is part of US based Arnold A Semler Inc, in business since 1946. SRC, founded in 2006, is a privately owned pharmaceutical services company with its business offices in Los Angeles, CA and Bangalore, India. SRC provides a wide range of services, primarily in the areas of pharmaceutical development, bioavailability & bioequivalence studies, early & late phase clinical development, regulatory services and medical & scientific writing.