US-based Nobex Corporation, Biocon's research and development partner, has filed for bankruptcy under chapter 11 of US bankruptcy laws. According to a release issued by Biocon to the stock exchanges today, it does not anticipate any disruption in the on-going oral insulin research programme licensed from Nobex. "Biocon has invested $5.8 million in Nobex- $1million in common stock and $4.8 million in convertible loans," the release added. |