Biocon Ltd today announced a definitive agreement to divest
its enzymes business vertical, that business includes
a broad range of industrial enzymes, food additives and
process aids, to Novozymes A S for $115 million and focus
on its core bio-pharmaceuticals business.
has simultaneously signed an exclusive agreement with
Invitrogen Corporation to develop and market a bio-similar
version of G-CSF (granulocyte-colony stimulating factor)
insulin in North America and the European Union for cell
enzymes business will be integrated into Novozymes South
Asia Pvt Ltd, a fully owned affiliate of Novozymes A/S.
Production and formulation will continue at Biocon''s site
under lease and service agreements with Novozymes.
to shareholder and regulatory approvals, the transaction
is expected to he completed by the end of the third quarter
of the calendar year.
says that after the divestment process is over, it would
concentrate on its bio-pharma business verticals that
include APIs, biologicals and proprietary molecules both
commercialised and under development.
the past decade we have clearly recognised the high growth
trajectory of our bio-pharma business verticals and have
progressively invested to build proprietary know-how and
global scale," said Kiran Mazumdar-Shaw, chairman
and managing director, Biocon.
as the recognised world leader in enzymes will be in a
strong position to leverage our existing enzymes portfolio
built over a span of nearly three decades.
We believe that this is the right time to divest our enzymes
business and focus on unleashing the full potential of
our bio-pharma businesses," she added.
Capital Advisors acted as Biocon''s investment bankers
to the transaction with Novozymes.
licensing agreement for GCSF
Biocon has simultaneously signed an exclusive licensing
agreement with global biopharmaceutical firm Invitrogen
Corporation, a provider of essential life science technologies
for disease research and drug discovery, to market pharmaceutical-grade
insulin to the global cell culture market.
the terms of the agreement, Biocon will receive an upfront
licensing fee and royalties from sales after it obtains
regulatory approvals in the licensed territories.
company also hopes to commence Phase I clinical trials
in Sweden for which it has filed an investigational medical
product dossier (IMPD) for IN 105. The company says marks
its first step in the international development plan for
trial will be conducted at Karolinska University Hospital