Parinam Law Associates has acted for Mylab Discovery Solutions and Serum Institute of India in their joint venture to manufacture Covid-19 testing kits, led by managing partner Hitesh Jain, partner Mallika Noorani and senior associate Manali Kshirsagar.

As India faces a severe shortage of coronavirus disease (Covid-19) testing kits, Mylab Discovery Solutions, the first Indian company whose testing kit was approved by the Indian Council of Medical Research (ICMR), has tied up with Serum Institute of India, world’s largest vaccine manufacturer by number of doses produced, to scale up the operations and escalate faster delivery of testing kits.

— The Hindustan Times

The deal would see Serum Institute take a stake in Pune-based Mylab, in which members of Jain’s family, incidentally, are also early investors.

“We worked on [and closed] the deal [in] 48 hours,” commented Jain.