![](http://www.biospectrumindia.com/images/content/2011/oct/Rajeev-Sindhi,-CEO-&--Manag.png)
|
Mr
Rajeev Sindhi
CEO & MD, Sandor Proteomics
The author is a first generation technocrat businessman. His career
started with setting up a 100 percent export-oriented granite
manufacturing plant 21 years ago. He ventured into medical business in
1996 and has since been in the healthcare and life sciences industry.
He is presently the CEO and managing director for Sandor Proteomics.
|
The mission of our start-up biomedical research laboratory was to
discover novel biomarkers in the field of transplantation, infectious
and immunological diseases. Our chief scientific officer initiated this
process in at least one of these therapeutic areas in the US. The
laboratory in India would expand research testing to additional
subjects, and expedite the development process while validating
potential biomarkers in the Indian population.
However, our financial model suggested that, as a small enterprise, we
had to have many independent, though synergetic, revenue streams to
ensure steady cash flow, while fulfilling our discovery agenda. This
prompted us to create a parallel service model. Additional funding was
needed to procure the equipment necessary to offer a range of research
services. Early opportunities to provide such services included
diagnostics for rare genetic disorders and high throughput genomics.
Both opportunities guided formulation of our revenue generation
strategies for the near to medium term.
To pursue these expanded goals, we began to search for an investor who
could partner in a high-risk, long-gestation project. We were extremely
fortunate to have an investor in Mr Shapoorji Pallonji Mistry, who
shared our vision. Since inception, we have struggled with a constantly
evolving business model focussed largely towards ensuring sustainable
revenue streams. The government, though very promising on paper, hardly
matched the risk appetite needs of a discovery company. Regular funding
applications to various government agencies became a norm even though
the success rates were very low and the process painstaking. At least
one funding agency, the DBT, did guide us towards success in achieving
competitive SBIRI funding to fulfil our discovery research goals. Once
awarded, our annual dialogue with the DBT reviewers and scientific
auditors has been the one bright spot and a highly anticipated
interaction in our ongoing search for governmental support. Their
willingness to understand commercial scientific and technical ground
realities, and provide suggestions has been very helpful.
Our plan to enter the long-gestation business of diagnostics for rare
metabolic disorders was finalised, while associating with paediatric
geneticists in India. All of these practitioners were being supplied
with life saving enzyme therapies by Genzyme Corporation, US, under
Genzyme’s charitable access program. Our sister company, Sandor
Medicaids, was the distribution conduit for these supplies. It was the
urgent need identified by these physicians that prompted us to initiate
a technology transfer and training contract with Erasmus Medical
Center, Holland. A diagnostic lab for metabolic disorders was
established. With support from Erasmus and geneticists who believed in
the quality systems’ implemented in our laboratory, we began testing
patient samples that had historically been shipped out for overseas
testing.
At about this time, the company also took a bold step to install the
first-ever high throughput genomics platform from Illumina, US, in the
private sector. Although extremely expensive for a start-up, this
platform gave us a unique edge as the first private sector
high-throughput genotyping service provider in India. As a result, one
of the largest genome-wide association study (GWAS) in India was
outsourced to us by a government institute. Subsequently, we started
offering next generation sequencing. We were fortunate to get the first
large contract for de novo sequencing of the Indian buffalo along with
early contracts for transcriptome analysis from an Indian Council of
Agriculture Research (ICAR). Today, our company is the sole certified
service provider for Illumina for their genotyping and gene expression
services in India. As the first private sector service provider of this
technology, we would not have succeeded without the excellent and
continuous technical and scientific support of Premas Biotech, who
represented Illumina in India.
Our association with the animal genetic institutes of the ICAR prompted
us to look at opportunities in animal sciences. We established a
separate laboratory for animal genetics for diagnosis and research. In
a country like India, where animal husbandry has a major role in
agriculture, we believe that there is sufficient promise in this
business.
Another opportunity presented itself when the head of a government
institute decided to experiment with a public-private partnership (PPP)
model to run their central instrumentation facility (CIF). We competed
successfully for an open tender to accomplish this objective. A
successful PPP model has been developed. Management of a well-equipped
central facility gives us access to some of the latest and more
expensive biotech research instrumentation at a reasonable access
price. The government institute has gained trained manpower to operate
their instruments and recover instrument costs.
Today, in our fourth year of existence, we have created a niche for our
company in the field of animal genetics, created a bio repository for
biological samples, and successfully run a PPP model of handling CIF
for government-owned central laboratories. We offer high throughput
genomic and proteomic services to scientists. In this process, our
company has become a well-respected and sought after referral lab for
paediatric geneticists across India. We have fully accepted that our
business model will keep evolving in order to capture changing
opportunities. Viable revenue streams, in our opinion, will be the
basis for sustaining operations. A significant component of these
operations is our long-standing in-house discovery programs. We expect
these discovery efforts to be complemented by generation and
commercialization of shared IPR as a result of collaborative research
with various government or private organizations.
Although extremely demanding and challenging, our experience has been
very educational and satisfying. As a start-up company, attracting
talented manpower can be a constant challenge. Ongoing financial and
logistical support from our investor-mentor, Mr Shapoorji Pallonji
Mistry helped us negotiate these challenges. This ongoing support and
access is crucial for any start-up during difficult business cycles.
Most importantly, a shared vision with talented staff has been our
sustenance. Long hours are required to stay competitive, meet contract
deadlines, bid on tenders, or develop novel approaches to organize
workflow. None would have been possible without colleagues who
undertook every business challenge selflessly for the success of our
team. Our sister company, Sandor Medicaids, which distributes and
markets high-end niche biotech drugs, devices and equipment for the
healthcare industry, has also supported our research and diagnostic
initiatives by providing cold chain logistic support throughout India.
We are certain that the search for newer business models will continue
and result in parallel additions to our research goals. These business
models will be driven by unmet market needs both in agriculture and
life sciences. Hard work with a lot of good luck will remain the
cornerstones of any success in the future.