Syngene International hits new high on sealing deal with Strand Life Sciences

The stock rallied 9% to Rs 524, also its record high on the BSE in intra-day trade on Thursday.

Syngene International has rallied 9% to Rs 524, also its record high on the BSE in intra-day trade on Thursday, after the company announced that it has closed the deal with Strand Life Sciences to purchase systems biology and pharma services practice for an undisclosed amount.

“The company has completed a deal through which Syngene has purchased assets of Strand Life Sciences related to systems biology, Heptox and pharma bioinformatics services. This includes target dossier business and rights to NGS data analytics and Sarchitect platforms, supported by a strong scientific team,” Syngene International said in a press release.

This deal gives Syngene access to Strand's patented Virtual Liver model and the NGS analytics platform, it added.

The Virtual Liver model is able to predict the toxic effect of different drugs or chemicals on the liver (both rat and human) using information from laboratory based experiments prior to actual testing on live animals or humans. Strand NGS is an integrated platform that provides analysis, management and visualization tools for next-generation sequencing data.

At 10:02 am, the stock was up 5% at Rs 505 on the BSE, as compared to 1.1% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 397,673 shares changed hands on the BSE and NSE so far.