In a major development in India’s life sciences real estate sector, Rx Propellant, the country’s leading life sciences infrastructure platform, has secured a significant lease deal. The platform has leased a massive 1.3 lakh sq.ft. R&D facility, named Nextopolis, to GV Research Platform GVRP. The deal, valued at INR 162 crore, will grant GVRP a 10-year occupancy in this state-of-the-art facility situated in the renowned Genome Valley in Hyderabad.
A Booming Industry and the Demand for Premier Lab Spaces in India
India’s life sciences industry is experiencing significant growth, and this recent deal exemplifies the increasing demand for high-quality lab spaces that cater to diverse operational needs. Nextopolis, which was launched in 2022, has been specifically designed and built as a unique facility for biomedical research and pilot manufacturing. According to Milind Ravi, the Chief Executive Officer of Rx Propellant, “Life Sciences is an immensely promising industry in India, and this deal is a testimony to the rising demand for premier lab spaces, tailor-made to support diverse operational needs.”
GVRP’s Commitment to Advancing Ground-Breaking Research in Life Sciences Industry
GVRP, an integrated contract research organization (CRO) in the biopharma industry, prides itself on seamlessly integrating research models and preclinical testing capabilities. Kalyan Korisapati, the Chief Executive Officer of GV Research Platform, acknowledges their dedication to accelerating innovation by partnering with Envigo RMS LLC and having a state-of-the-art research facility that meets international standards such as OECD-GLP and AAALAC International. Kalisapati states, “Aligned with our commitment to advancing innovation, our partnership with Envigo RMS LLC, alongside our state-of-the-art research facility meeting international standards like OECD-GLP and AAALAC International, is geared towards delivering unparalleled support for advancing ground-breaking research in the field of life sciences.”
Nextopolis: The Ideal Infrastructure Solutions for Pharma and Biotech Firms
Nextopolis offers customized infrastructure solutions suitable for pharmaceutical and biotech companies. As an eco-friendly facility, it boasts sustainable infrastructure and world-class amenities such as EV charging stations, high-side HVAC systems, pre-treatment and sewage treatment plants, compressed gas and vacuum lines, fire alarm and suppression systems, and much more. Additionally, the premises also house recreational spaces, including an open amphitheater.Rx Propellant owns a diverse portfolio of seven projects within the Genome Valley cluster, amounting to a total of 2.5 million sq.ft. These projects include advanced lab spaces and agile flexi-factories. Furthermore, the life sciences real estate portfolio of Rx Propellant encompasses a total of nine projects, with over 6.5 million sq.ft. currently under development in Hyderabad, Bengaluru, and Mumbai. In conclusion, the lease of Nextopolis to GV Research Platform GVRP represents a significant milestone in India’s life sciences real estate sector. It underlines the increasing demand for premium lab spaces while offering an ideal facility for advancing groundbreaking research in the field of life sciences. The association between Rx Propellant and GVRP symbolizes the commitment of both organizations to driving innovation in this rapidly growing industry.
