City-based Transgene Biotek Limited, a biotechnology company, has announced the sale of technology for recombinant human erythropoietin (rh-EPO) to TSS Export GmbH FZE, one of the group companies of Germany-based TSS group, for $5 million (Rs 26 crore).
The technology transfer and the sale of this technology is expected to be completed within 5-6 months. KK Rao, managing director of Transgene Biotek, said, “This transaction fulfils the pledge we made earlier this year to focus on revenue generation whilst monetising the sale of under utilised bio-generic drug assets, those developed by the company during the last 7-8 years, but which we now feel do not fit into our new agenda for sustained growth.”
Transgene Biotek recently commenced commercial manufacturing of DHA (Docosahexaenoic acid), an omega-3 fatty acid, which has seen explosive growth in the nutraceuticals and health supplements market.
The company is in the process of expanding its in-house infrastructure to augment production capacities for DHA and other APIs, and hopes to start commercial manufacturing of its second API (active pharmaceutical ingredient), called Tacrolimus. It is in discussion with a number of manufacturers in Europe and North America for strategic partnerships to manufacture and distribute these products, the release said.
