Reliance Life Sciences has allocated 2,500 crore for capacity expansion over the next two years as well as for the development of innovative vaccines and gene treatments.
One of the company’s largest investments since its foundation two decades ago, the majority of the funds, or 2,000 crore, would be used at its new site in Nashik. The biotech company will use the remaining funds at its current Navi Mumbai facility.
The corporation has invested a total of 1,600 crore in the industry since 2002. Reliance Life Sciences just completed Phase-1 clinical trials for its covid vaccine, according to K V Subramaniam, CEO of the company, and is finalising the protocol for moving ahead.
The Covid vaccine, based on recombinant proteins, is now in development at the business’ Navi Mumbai laboratory.
