Biocon signs agreement with Invitrogen Corporation

Biocon enters into an exclusive licensing agreement for GCSF: The Company entered into an exclusive licensing agreement with a global biopharmaceutical Company to develop and market a bio-similar version of G-CSF (granulocyte-colony stimulating factor) in North America and the European Union. Under the terms of the agreement, the Company will receive an upfront licensing fee and following approval in the licensed territories, royalties from sales.

Biocon signs an exclusive agreement with INVITROGEN CORPORATION to market Insulin for cell culture: The Company has signed an exclusive agreement with 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 cell culture market is a large opportunity for the Company's Insulin.

Biocon files IMPD for IN 105 to conduct Phase I Clinical Trials in Europe: The Company has filed an Investigational Medical Product Dossier (IMPD) for IN 105 to conduct a Phase I Clinical Trial in Sweden. The trial will be conducted at Karolinska University Hospital., Stockholm. This marks the first step in the international development plan for IN 105.

The stock was trading at Rs.468.55, up by Rs.7.95 or 1.73%. The stock hit an intraday high of Rs.479 and low of Rs.465. The total traded quantity was 267901 compared to 2 week average of 131505.

Source : Equity Bulls

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