Biocon's Syngene inks pact with GSK for new drug discovery

Biocon's contract research arm Syngene International on Monday said it has inked a drug discovery agreement with global drug firm GSK.

The multi-year R&D agreement between the two companies will focus on accelerating the discovery of new drug candidates using Syngene's discovery services platforms, Syngene International said in a regulatory filing.

As part of the collaboration, Syngene will set-up a customised discovery research laboratory to support projects across several therapeutic areas, it added.

A team of Syngene scientists will work closely with GSK's global R&D teams on discovery research projects to identify new drug candidates with the potential to address some of the world's most pressing healthcare needs.

"The collaboration in many ways underlines Syngene's position as one of the most innovative, capable and cost effective providers of discovery research services to the global pharma industry," Syngene International Chief Executive Officer Jonathan Hunt said.

Syngene started offering discovery services to global R&D focused organisations from 1994 onwards. Over the years, it has consolidated its position in offering integrated discovery, development and manufacturing services across small and large molecules within both the pharmaceutical and biotechnology industries.

Shares of the company were trading 4.03 per cent up at Rs 583 on the BSE.