Biocon subsidiary ties up with Swedish firm

Biocon subsidiary Syngene International has signed an agreement with Sweden's Innate Pharmaceuticals AB for jointly manufacturing and marketing drugs against bacterial diarrhoeal disease.

Under the cooperation agreement the two companies would develop, manufacture and market virulence blockers, a new class of drugs that could be an alternative to antibiotics, Biocon said in an official release issued to the BSE today.

Innate Pharmaceuticals would have the European marketing rights, while Syngene would have rights to other parts of the world market. Each company would receive royalties on sales conducted by the other.