Syngene International announces Extension of Collaboration with Amgen

Syngene International, an integrated research, development and manufacturing services company, today announced the extension of its long-standing multi-discipline research collaboration with Amgen Inc, one of the world's leading biotechnology companies. The contract is currently extended until the end of 2026 and its scope includes integrated drug discovery and development solutions in discovery chemistry and biology, peptide chemistry, antibody and protein reagents, pharmacokinetics and drug metabolism, and pharmaceutical development. In addition to operating the existing Syngene Amgen R&D Center (SARC), under the new contract, Syngene will also build and operate a dedicated laboratory which will enable R&D project acceleration.

Jonathan Hunt, CEO and Managing Director, Syngene International Ltd., said, "While SARC was established in 2016, our collaboration with Amgen dates back to 2012. During this time, we have partnered on research and development to addresssome of the most serious diseases in the world. We have progressively expanded our areas of collaboration, co-authored research papers on novel science and supported the advancement of multiple development projects, while adhering to global standards of quality and safety. We are proud to have played a role in advancing molecules that are making a difference to patients around the world today. We are delighted with our joint commitment to not only extend the term of this partnership but also add a new state-of-the-art facility to the collaboration."

"Amgen is pleased with the success of the long-standing collaboration with Syngene that has contributed to the advancement of a number of molecules into clinical trials," said Margaret Chu-Moyer, Ph.D., vice president of Research and Head of Chemistry, Characterization & Technology at Amgen. "We look forward to continuing to work together with the shared goal of addressing serious disease for patients in need."

SARC was established in 2016 and Syngene announced expansion of the original dedicated centre in 2017. It currently consists of 60,000 sq. ft of floor space and a dedicated team of multi-disciplinary Syngene scientists who work closely with Amgen researchers around the world on the discovery and development of innovative medicines.

Shares of Syngene International Limited was last trading in BSE at Rs. 609.10 as compared to the previous close of Rs. 606.55. The total number of shares traded during the day was 54789 in over 2626 trades.

The stock hit an intraday high of Rs. 626.00 and intraday low of 602.35. The net turnover during the day was Rs. 33672176.00.

Source : Equity Bulls

Keywords

SyngeneInternational INE398R01022 ResearchCollaboration Amgen