Transgene Biotek in talks for strategic partner
Hyderabad-based Transgene Biotek is in discussions with global pharma companies for a possible collaboration. The company has invested about Rs 150 crore in R&D facilities for drug development.
The company hopes to sign the deal in the next six months, according to KK Rao, chairman and managing director. “The two recent animal studies on our oral insulin project have yielded exceptional results, which gives us the confidence for the strategic partnership with a large pharma company,” he said on Tuesday.
The company last week said Mauritius-based Stream Value Fund had agreed to support its drug discovery in return for equity participation on a long-term basis.
The company has also decided to delist from the stock exchanges, according to Rao.