SHOWCASING the Tata group’s growing interest in the emerging biopharmaceutical market, Tata Industries Limited on Friday acquired an equity stake in biotechnology firm Indigene Pharmaceuticals.

Even though the valve of the Tatas investment in the company is not known, company officials said that post deal the Tatas would hold a 26 to 29 percent stake in Indigene. “We are actively seeking new opportunities in knowledge based industries. Biotechnology and biopharmaceuticals offer great potential in creating and improving quality of life,” said Tata industries chairman Ratan Tata.

Floated in 2002, Indigene Pharmaceuticals products molecular combination based products for global prescription and consumer markets. The company operates from Boston Europe and India. The company initially plans to enter the US market this year with launch of four consumer healthcare products. The products would be subsequently launched in India in 2007.

“Our strategic alliance with enables us to leverage the groups reputation and vision, nurturing the growth phase of ventures and creating fundamentally strong organizations,” said Indigene Chairman and CEO M Vaman Rao.

Speaking on its India operations, Rao said that the company viewed India as a key hub for its international operations and was scouting for acquisition to grow in the country. The company is also focusing on creating drugs for metabolic disorders, oncology, central nervous system and infection for which it has tied up with the Council of Scientific and Industrial Research (CSIR) for developing leads in certain selected disease areas.

The investment in Indigene, is the third such by the Tata Group in the biopharmaceutical sector. The company had earlier had picked up a stake in Bangalore-based biotech firm Avestha Gengraine and then bought a stake in pharmaceutical research company Advinus Technologies. Tatas earlier had their own pharma division which was sold of to Wockhardt.