Bengaluru, Karnataka, India: September 24, 2019:
Biocon Ltd (BSE code: 532523, NSE: BIOCON), Asia’s premier biopharmaceuticals company, today announced that its subsidiary, Biocon Biologics, has acquired R&D capital assets for a 60,000 sq. ft state-of-the-art ‘bench to pilot scale’ Biologics research facility at TICEL Bio Park in Chennai, India.
Biocon Biologics has acquired these assets from Pfizer Healthcare India Ltd.
Dr Christiane Hamacher, CEO, Biocon Biologics, said: “The high-end integrated R&D facility in Chennai will enable Biocon Biologics to expand its R&D capability and accelerate its journey towards meeting its strategic long-term goal of addressing the needs of millions of patients worldwide. This investment will allow us to fast-forward development of our biosimilars from lab to pilot scale. R&D is at the core of what we do and I believe this facility will enable us to pursue breakthrough innovation in pursuit of providing affordable access to high quality biosimilars and inclusive healthcare solutions aimed at transforming patient lives globally.”
The facility will house an early stage research and innovation center including a pilot scale R&D Unit, well-equipped with cell line development, drug substance process development from bench scale to 400 litre scale bioreactors, drug product formulation laboratories and analytical R&D laboratories. The facility is expected to be operational in a few months post qualification and will house over 250 scientists who will have access to state of the art R&D labs equipped with over 500 high- end process and analytical instrumentation.
The new facility provides Biocon Biologics a significant time advantage in comparison to setting up a greenfield R&D project and will accelerate the global development of our biosimilars portfolio.
Currently, Biocon Biologics has a 200,000 sq. ft state of the art Research & Development Centre at Biocon Park, Bengaluru, India. The Company has a product pipeline of 28 molecules, including 11 with Mylan, few with Sandoz and rest on its own.
The financial details of the deal are confidential.
TICEL Bio Park at Chennai, Tamil Nadu, India, is a hub for the biotech R&D industry in major domains such as medical biotechnology, nutraceuticals, agricultural biotechnology and bioinformatics and provides world class infrastructure support.
About Biocon Biologics
Biocon Biologics is a subsidiary of Biocon Ltd, an innovation led global biopharmaceuticals company. Biocon Biologics is engaged in developing high quality, affordable biosimilars that can expand access to a cutting-edge class of therapies to patients globally. It is uniquely positioned as the fully integrated ‘pure play’ biosimilars organization in the world and aspires to transform patient lives through innovative and inclusive healthcare solutions. The Company has a large portfolio of biosimilars under global clinical development with three of these commercialized in the developed markets of EU, U.S. and Japan. It has obtained approvals and commercialized a range of biosimilars, including monoclonal antibodies for cancer, Pegfilgrastim, rh-Insulin and Insulin Glargine on its own or through partners in key global markets. Biocon Biologics believes that strong partnerships offer enormous opportunities to co-create the future of healthcare, building a patient ecosystem beyond the product, which can transform millions of lives.
About Biocon Ltd
Biocon Limited, publicly listed in 2004, (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is a fully-integrated, innovation-led global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune diseases. The Company has developed and commercialized a range of Biosimilars (Monoclonal Antibodies, Pegfilgrastim, rh- Insulin and Insulin Glargine), Novel Biologics and differentiated Small Molecules in India and key emerging markets. It has a large portfolio of biosimilars and promising novel assets in immunotherapy under global development. Some of its key formulations brands are INSUGEN® (rh-insulin), Basalog One®(prefilled Glargine pen), CANMAb™ (Trastuzumab), KRABEVA®(Bevacizumab), BIOMAb-EGFR® (Nimotuzumab) and ALZUMAb™(Itolizumab). For further information, please visit www.bioconbiologics.com& follow Biocon Limited on Twitter @bioconlimited
Disclaimer: This press release may include statements of future expectations and other forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects upon Biocon and its subsidiaries/ associates. These forward-looking statements involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from our expectations include, amongst other: general economic and business conditions in India and overseas, our ability to successfully implement our strategy, our research and development efforts, our growth and expansion plans and technological changes, changes in the value of the Rupee and other currency changes, changes in the Indian and international interest rates, change in laws and regulations that apply to the Indian and global biotechnology and pharmaceuticals industries, increasing competition in and the conditions of the Indian and global biotechnology and pharmaceuticals industries, changes in political conditions in India and changes in the foreign exchange control regulations in India. Neither Biocon, nor our Directors, or any of our subsidiaries/associates assume any obligation to update any particular forward-looking statement contained in this release.