Syngene International up 1% on partnership with Zumutor Biologics

Share price of Syngene International rose 1.4 percent intraday Wednesday as company has entered in to partnership with Zumutor Biologics for Biotherapeutic antibody services.

The company has entered into a non-exclusive partnering agreement with Zumutor Biologics to access Zumutors proprietary naive human phage/yeast display library.

This collaboration further enhances Syngenes market – leading capabilities in Discovery Biology, providing its scientists with additional tools to help solve complex biology problems in biotherapeutic drug discovery.

Under the terms of the agreement, Syngene will screen target antigens against Zumutors proprietary human antibody libraries to identify and characterize novel antibody clones, which will be further developed by Syngene towards novel biotherapeutics programs for its partners.

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Manoj Nerurkar, Chief Operating Officer of Syngene International said, “Syngene has been a pioneer in discovery research and we see Discovery Biology as one of our growth drivers. This partnership will expand our existing portfolio of therapeutic antibody discovery platforms for our clients.”

At 14:24 hrs Syngene International was quoting at Rs 607.50, up Rs 1.20, or 0.20 percent on the BSE.

The share touched its 52-week high Rs 699.80 and 52-week low Rs 430.00 on 25 April, 2018 and 11 August, 2017, respectively.

Currently, it is trading 13.19 percent below its 52-week high and 41.28 percent above its 52-week low.

Posted by Rakesh Patil
First Published on May 30, 2018 02:31 pm

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