New Delhi: Biotechnology major Biocon and US-based Bristol-Myers Squibb today announced a five-year extension of their drug discovery and development partnership in India.
The Bangalore-based firm's contract research subsidiary- Syngene International and Bristol-Myers Squibb (BMS) have extended their collaboration for the next five years, Biocon said in a statement.
Both the companies have been working together since 2007 to develop capabilities in various fields including medicinal and process chemistry, biology and biotechnology at the Biocon Bristol-Myers Squibb Research Center (BBRC) in Bangalore.
BMS and Syngene had jointly developed the BBRC.
"This extension reflects the strength of our existing collaboration which has delivered many successful outcomes," Syngene International Director Peter Bains said.
The collaboration has so far produced six drug candidates for further study and also helped BMS reduce the time and costs associated with advancing new compounds to first- in-human studies.
"The BBRC has supported the nonclinical development of a large proportion of our small-molecule portfolio assets since its inception, and is a premier example of the high-quality innovative drug hunting that is taking place in India today," BMS executive vice president and chief scientific officer Francis Cuss said.
Financial terms of the collaboration were not disclosed.
Biocon shares today closed at Rs 442.15 apiece on BSE, down 0.89 percent from the previous close.
