Friday, 30 September 2022

#startupoftheday 155- Biopioneer Pvt Ltd

09 May 2022 | Features

Empowered By Innovation

Inception- 2020

Location- Bhubaneswar

Domain- Biotech

FoundersDr Bijayananda Panigrahi and Soumya Surajita

Total team strength- 8

Total funds raised- Rs 70 lakh (approx)

Investors-DBT (BIRAC-BIG), Startup Odisha

Revenue generated since inception- NA

 

Key Highlights-

  • India's first start-up dedicated to the development of protease inhibitors.
  • Developed NexGen HM Protease inhibitor- a single component that is stable at room temperature or even at higher temperatures, non-toxic, water-soluble, and effective 
  • Received DBT (BIRAC-BIG) funding Rs 49,93,000 for the project (2019-2022)- A novel, cost-effective material with enhanced activity and thermostability: a new generation protease inhibitor for the biotech industry
  • Received Startup Odisha funding of Rs.15,00,000 for the project (202102022)- Protease inhibitor with enhanced active, thermally stable, nontoxic, multiple targeting single protease inhibitor for protein isolation
  • Received Startup Odisha monthly allowance grant of Rs 22,000/month for a period of 1 year from April 2021 to April 2022

 

Founder Speaks-

"In the Biotech industry, validation of any product especially protease inhibitor needs a huge time, as well as target customer segment is very specific and distributed around the globe. Therefore, finding the target customer, and channelize the product network throughout the world is a major challenge associated with this type of product.

According to a market watch analysis, the protease inhibitor market will be big, with sales expected to reach $4 billion by 2028. Because it has several applications in biotechnology, medicine, microbiology, agriculture, pharmaceuticals, cosmetics, food additives, and the protein purification sector, to name a few. It could be utilized as a reagent, as well as pharmaceutical-grade compounds. We are tremendously driven to acquire a significant market in India and the subcontinent because we are the first protease inhibitor firm in India. It is one of the measures aimed at reducing India's reliance on protease inhibitor imports and achieving self-reliant India in the protease inhibitor market."

- Dr Bijayananda Panigrahi, Founder & Chief Executive Officer, Biopioneer

 

 

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