TechInvention Lifecare & Reagent IVD Resources collaborate on development & manufacturing of innovative diagnostics

Mumbai: TechInvention Lifecare, a Mumbai-based biotech start-up, has entered into a strategic collaboration with Reagent IVD Resources (RIVDR), a Jaipur-based diagnostics-focused start-up, for the development and manufacturing of a comprehensive range of diagnostics. The portfolio would encompass human as well as veterinary segments for global supplies.

While TechInvention Lifecare has developed a portfolio comprising extraction kits, rapid point-of-care, and molecular diagnostics for infectious diseases, RIVDR is into the manufacturing and distribution of biochemistry and chemiluminescence kits. There are also a few high-potential novel products in the pipeline, primarily for zoonotic diseases and WHO Critical and High Priority-listed pathogens with antimicrobial resistance.

‘This collaboration is well aligned with the mission of ‘Make in India, make for the World’,’ said Syed Ahmed, CEO of TechInvention Lifecare.

India is the fastest-growing medical device market among the emerging markets. The current market size of the medical devices industry in India is estimated at $11 billion, and with India’s contribution in the fight against the COVID-19 pandemic, the country’s medical devices sector has gained even more prominence. The export of medical devices sector has been growing at a CAGR of 9.37% over the last 5 years and is expected to reach ~ $10 billion by 2025.

‘With a robust complementary portfolio of each, we foresee synergy enabling high-quality, novel, and affordable diagnostics in India and other global markets,’ said Madhur Mohan Goyal, MD of RIVDR.