To build a lab facility at Genome Valley in Hyderabad, Rx Propellant has invested Rs 1,100 crore, its first from $200 million that global fund Actis infused in the health sciences real estate development platform.
The business intends to build a 9,00,000 square foot lab space in Genome Valley, with an operational start date of mid-2025. The new cluster will serve established contract manufacturers, multinationals, scale-ups, and startups in the pharmaceutical industry.
“We have just started with the first phase development and have a strong pipeline of tenants. There is a formidable demand from contract research organisations with many companies shying away from sending work to China,” managing director Vishal Goel said.
