TCG group-promoted TCG Life Sciences, a contract research firm in the area of drug discovery, has signed an agreement with pharma giant Pfizer.
The agreement would encompass developing compounds required for drug discovery, TCG Life Sciences TCG Life Sciences Managing Director Swapan Bhattacharya told reporters today.
Stating that TCG Life had emerged as a leading contract research organisation in the area of drug discovery, he said the company was working broadly in three domains-- pain/inflammation, infectious diseases and disorder of the central nervous system.
Bhattacharya said the company is employing 1,100 staff and has plans to double it in the next two or three years.
Although, the company had filed the DRHP with Sebi in 2008 for an IPO, it had now dropped the idea due to poor primary market conditions.
"We will float the IPO at an opportune time," Bhattacharya said.