Biotechnology major Biocon today said it has inked a pact with Quark Pharmaceuticals, to develop a range of siRNA (small interfering RNA)-based novel therapeutics.
The companies have entered into a licensing and collaboration agreement for the development of a range of siRNA-based novel therapeutics, Biocon said in a statement.
“This collaboration will enable Biocon to co-develop, manufacture and commercialise QPI-1007, a novel siRNA drug candidate for ophthalmic conditions, for India and other key markets,” it added. As part of the agreement, Biocon will have access to Quark’s innovative and proprietary siRNA technology platform that can be leveraged for the development of novel therapeutics for various unmet medical needs.
The company, however, did not disclose financial details. Commenting on the development, Biocon Chairperson and Managing Director Kiran Mazumdar Shaw said Quark is the world leader in this technology and their joint development efforts on QPI-1007, targeting ocular neuroprotection, aims at providing relief to several patients suffering from serious ophthalmic conditions.
“This collaboration reinforces our commitment to develop and introduce innovative therapeutics to India to meet the unmet medical needs. We hope to use this technology for developing several other novel therapeutics,” she added. QuarkPharma CEO Daniel Zurr said the collaboration will position Biocon as the leading siRNA company in India and as an international player in this new drug category.
Biocon shares closed at Rs 437.35, up 11.38 percent, on the BSE on Wednesday. Biocon stock price On December 18, 2013, Biocon closed at Rs 437.35, up Rs 44.70, or 11.38 percent. The 52-week high of the share was Rs 450.90 and the 52-week low was Rs 255.00.
The company's trailing 12-month (TTM) EPS was at Rs 15.02 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 29.12.
The latest book value of the company is Rs 110.34 per share. At current value, the price-to-book value of the company is 3.96.
Read more at: http://www.moneycontrol.com/news/business/biocon-inks-licensing-pactquark-pharma_1010463.html?utm_source=ref_article
The companies have entered into a licensing and collaboration agreement for the development of a range of siRNA-based novel therapeutics, Biocon said in a statement.“This collaboration will enable Biocon to co-develop, manufacture and commercialise QPI-1007, a novel siRNA drug candidate for ophthalmic conditions, for India and other key markets,” it added. As part of the agreement, Biocon will have access to Quark’s innovative and proprietary siRNA technology platform that can be leveraged for the development of novel therapeutics for various unmet medical needs.
The company, however, did not disclose financial details. Commenting on the development, Biocon Chairperson and Managing Director Kiran Mazumdar Shaw said Quark is the world leader in this technology and their joint development efforts on QPI-1007, targeting ocular neuroprotection, aims at providing relief to several patients suffering from serious ophthalmic conditions.
“This collaboration reinforces our commitment to develop and introduce innovative therapeutics to India to meet the unmet medical needs. We hope to use this technology for developing several other novel therapeutics,” she added. QuarkPharma CEO Daniel Zurr said the collaboration will position Biocon as the leading siRNA company in India and as an international player in this new drug category.
Biocon shares closed at Rs 437.35, up 11.38 percent, on the BSE on Wednesday. Biocon stock price On December 18, 2013, Biocon closed at Rs 437.35, up Rs 44.70, or 11.38 percent. The 52-week high of the share was Rs 450.90 and the 52-week low was Rs 255.00.
The company's trailing 12-month (TTM) EPS was at Rs 15.02 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 29.12.
The latest book value of the company is Rs 110.34 per share. At current value, the price-to-book value of the company is 3.96.
Read more at: http://www.moneycontrol.com/news/business/biocon-inks-licensing-pactquark-pharma_1010463.html?utm_source=ref_article
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