Biocon arm, Bristol-Myers Squibb in R&D tie up

Integrated biotech firm Biocon today said its subsidiary Syngene has entered into a research partnership with global pharma major Bristol-Myers Squibb.

Biocon's Syngene would leverage this symbiotic global partnership to provide research and development (R&D) services for discovery and early drug development.

Under the terms of the agreement, Syngene will partner with Bristol-Myers Squibb through a dedicated research facility at Biocon Park in Bangalore. This would house more than 400 scientists to help advance Bristol-Myers Squibb's discovery and early drug development.

"Bristol-Myers Squibb will significantly increase the scope of its existing relationship with Biocon's Syngene to further develop integrated capabilities in India in medicinal chemistry, biology, drug metabolism, and pharmaceutical development," Biocon said in a regulatory filing on Bombay Stock Exchange.

Commenting on the development, Kiran Mazumdar-Shaw, chairperson, Biocon Group, said: "The new research facility will mark a significant step forward in our evolution as a valuable partner to the global pharmaceutical industry."