The much-hyped biotech infrastructure facility near Hyderabad has changed hands, albeit quietly.

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The Shapoorji Pallonji Biotech Park, which was set up in the year 2000 for promoting the growth of biotech sector in Andhra Pradesh, has now moved into the hands of the US-based Alexandria Real Estate Equities, Inc, from Shapoorji Pallonji & Co, the construction giant.

The Andhra Pradesh government owns about 11% stake in the biotech park spread across 300 acres.

“Yes, there is a change in the ownership. But, we (Andhra Pradesh) will continue to have our stake,” B Sam Bob, the state’s industries secretary told DNA. However, financial details of the transaction are not known.

In February 2010, Alexandria had announced setting up of the Alexandria Centre for Science and Innovation at the Genome Valley in Phase III of the biotech park.

According to sources, the Shapoorji Pallonji Group has been facing issues in managing and expanding the biotech activity at the exclusive biotech park, which was set up during the chief ministership of N Chandrababu Naidu.

“It was one of the first parks to be set up exclusively for the biotech sector. But it has not taken off along expected lines. The needs of the biotech sector are completely different. The Shapoorji Pallonji Group did not completely understand the infrastructure requirements of the sector,” a source with a unit in the park said.

The park in the last decade has managed to attract only 35-40 units despite them being of lab scale and not needing much land.

“Most of us have units outside. The facility was supposed to provide incubation facilities for new and small companies apart from creating a cluster of biotech operations. But it did not go well,” an official with another entity said.

Sources also blamed that the government shifting its focus away from biotech development too has converted the park into a realty venture.

“We were told in the initial days that the park would not just be a property venture but an integrated biotech park with all the required facilities as per the needs of the biotech sector. At least the new developer would do something different,” another source said.