TCG Lifesciences Limited, a part of The Chatterjee Group, has entered into a collaboration with Pfizer, a pharmaceutical major, for research and development.
Under the pact, TCG will develop a a portfolio of preclinical candidate molecules in a series of discovery target programmes.
It will develop certain compounds pertaining to drug discovery, and Pfizer will own the compounds. TCGLS will receive research funding and will be eligible to receive research milestone payments as part of the partnership arrangement.
“We are excited to partner with Pfizer and assist them in the effort to discover a series of preclinical candidates,” said Swapan Bhattacharya, managing director, TCG Lifesciences Limited here today. TCG would keep its plans for an initial public offering (IPO) on hold till the market condition improves further, he said. “There are not many equity issuances now. We have not seen any substantial change in the equity markets. When it does change, we will do the IPO,” said Bhattacharya.
TCG Lifesciences Limited has operations in India, Europe, Japan and the US. It collaborates to service the multi-disciplinary research efforts of global pharmaceutical and biotechnology companies through its three units--Chembiotek (discovery research), Clininvent (clinical research solutions) and LabVantage (enterprise informatics). It has trust based relationships with majority of the global pharmaceutical companies.
The relationships span from specific solutions and sourcing services to integrated projects across multiple domains to complete translational research programs in the drug discovery and development space.
