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Venus Remedies shares rose 4.2 per cent in Tuesday's trade on BSE, logging an intraday high at Rs 320 per share. The counter saw buying after the company signed an exclusive license agreement with Infex Therapeutics, a UK-based anti-infectives specialist for the clinical development of MET-X.
Around 12:04 PM, Venus Remedies share price was up 2.96 per cent at Rs 316.15 per share on BSE. In comparison, the BSE Sensex was up 0.21 per cent at 74,610.27. The market capitalisation of the company stood at Rs 422.6 crore. The 52-week high of the stock was at Rs 427.3 per share and the 52-week low was at Rs 272.2 per share.
"Venus Remedies, a leading Indian phamaceutical company renowned for its long-standing expertise in combatting antimicrobial resistance (AMR), today announced that it has entered into an exclusive license agreement with Infex Therapeutics, a UK-based anti-infectives specialist for the clinical development of MET-X," the filing read.
The agreement authorises Venus Remedies to spearhead the clinical development, registration, and commercialisation of MET-X, an innovative metallo-beta- lactamase (MBL) inhibitor.
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The initial development phase will focus on integrating MET-X with meropenem to tackle drug-resistant Gram-negative bacteria, with Venus Remedies holding exclusive marketing rights within India.
Under the agreement, Venus Remedies will commence with a Phase I trial involving healthy volunteers in India, evaluating MET-X in combination with meropenem. Following successful Phase 1 outcomes, the focus will shift to Phase II/III trials targeting drug-resistant complicated urinary tract infections.
Venus Remedies is a leading Indian pharmaceutical company committed to providing innovative and affordable healthcare solutions to people around the world. From antibiotics to anti-cancer drugs, the company offers a wide range of products that are trusted by healthcare professionals and patients alike.
In the past one year, Venus Remedies shares have lost 11 per cent against Sensex's rise of 2.2 per cent.
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