Shares of Sun Pharma were up over 2% at Rs 602 after the company through its subsidiary and Intrexon Corporation, a leader in synthetic biology, annouced a joint venture to develop controllable gene-based therapies for the treatment of ocular diseases.
The jobint venture will leverage Sun Pharma's global capabilites and experience in developing and manufacturing dosage forms an specialty pharmaceuticals for niche therapy areas. Intrexon and Sun Pharma will share in broth the financing of, and the revenues from, the joint venture, the company said in a release.
Through an Exclusive Channel Collaboration, the joint venture will have access to Intrexon's full suite of proprietary synthetic biology technologies, including the RheoSwitch Therapeutic System platform.
The stock opened at Rs 592 and hit a high of Rs 607 so far. Over 1.2 million shares were traded on both the stock exchanges so far.
