Biocon Biopharmaceuticals becomes wholly owned subsidiary

Biocon’s subsidiary company Biocon SA, has entered into an agreement to acquire the 49% equity stake held by CIMAB SA in Biocon Biopharmaceuticals Private Limited (BBPL), according to the company’s filing with the NSE.

BBPL, a joint venture between Biocon and CIMAB, was established to provide manufacturing support for biopharmaceuticals to be jointly developed by the two partners.

The stake acquisition allows both Biocon and CIMAB to focus on the joint development of novel biologics led by the Tlh (Anti-CD6 Monoclonal antibody) program, which has just entered Phase Ill Clinical trials in Psoriasis.

BBPL will, however, continue to provide manufacturing support for all partnered programs between CIMAB and Biocon.

Biocon is India’s largest biotechnology company by revenue. The Group, promoted by Ms Kiran Mazumdar-Shaw, is a fully-integrated healthcare enterprise with strategic focus on biopharmaceuticals and research services.

The shares of Biocon are trading flat at Rs 304 on the BSE.