Mumbai: Hyderabad-based Suven Pharmaceuticals (www.suven.com), after setting up its US subsidiary (Suven Life Sciences LLC, USA), has announced the acquisition of assets of New Jersey-based Synthon Chiragenics Corporation (www.synthoncorp.com).

Synthon is a world leader in carbohydrate-based chiral technology for pharmaceuticals. Synthon is the first and only company to unlock the rich source of chirality contained in naturally occurring carbohydrates, using its proprietary technology to economically construct the most challenging chiral molecules, which serve as cores for drugs being developed in the faster-growing therapeutic areas, anti-virals, antibiotics and anti-cancer.

This is a significant step forward for Suven in its ambition to emerge as a leading full spectrum provider of discovery related services by 2005. Demand for a wide range of services like clinical trials, contract research, manufacturing and a host of other areas is set to show explosive growth post-2005. Recent reports by PwC and E&Y estimate the opportunity in the range of $20 billion.

Suven, through a focussed approach adopted since 1995, has emerged as one of the leading players in custom synthesis for NCEs. It''s strong relationship with more than 20 top global life science companies worldwide in past nine years forms a strategic competitive advantage as this opportunity draws near and competition from other Indian companies picks up.

Suven''s current base of 100 scientists in its R&D is expected to grow significantly in the medium term. Suven expects the US development centre-cum-marketing front-end to be fully operational by December 2003 and play a vital role in winning new R&D projects.

Suven Life Sciences will employ four-to-six PhDs, in addition to a small scientific and technical staff. Existence of this front-end will enhance exposure of Suven''s R&D capabilities in the most lucrative North American market and pave the way for seamless transition from pre-clinical level development to final manufacturing.

This acquisition will cut time to market the services and offers a significant boost to Suven''s chances of bagging R&D projects.