Business Standard news coverage on Transgene Biotek Ltd.
Transgene in pact with Dr Reddy's for obesity drug
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Press Trust of
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Biotechnology firm Transgene Biotek today said it has signed a pact with Dr Reddy's Lab to manufacture a drug named, Orlistat used in treating obesity.
The company has entered into a licensing and technology transfer agreement with Dr Reddy's Laboratories for the out-licensing of a technology to manufacture Orlistat, Transgene Biotek said in a filing to the Bombay Stock Exchange.
Under the terms of the compact, effective in due course of time, Dr Reddy's would gain worldwide rights to a unique technology to produce and commercialise Orlistat active pharmaceutical ingredients (API) which is developed exclusively by Transgene Biotek.
"The new alliance combines Transgene Biotek's technology with Dr Reddy's manufacturing skills, and extensive global sales and marketing capabilities" the company said.
Transgene Biotek would receive an upfront payments for certain commercial milestone, and royalties on the sale of Orlistat API in all countries worldwide.
Orlistat is used in the treatment of obesity, including weight loss and weight maintenance.
Transgene Biotek comes up with novel drug for colon cancer
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BS Reporter / Mumbai Apr 26, 2010, 15:47 IST
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Transgene Biotek has expanded its cancer drug pipeline by coming out with a novel drug for colon cancer. The drug is based on Transgene's proprietary technology platform using a humanised monoclonal antibody. Transgene has developed monoclonal antibodies, which efficiently kill colon cancer cells without harming normal cells.
According to a report from Economic Intelligence Unit, by 2020, 9.7 per cent of new cases of cancer in the world will be from colorectal cancer making it the third highest incidence cancer after lung and breast. Cancer accounted for 7.9 million deaths in 2007, about 70 per cent in low and middle income countries
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Biotechnology firm Transgene Biotek today said it will raise up to Rs 500 crore through various domestic and international fund raising instruments.
The company's board, at its meeting held on September 30, has decided to raise Rs 500 crore through various domestic and international fund raising instruments, including foreign currency convertible bonds (FCCBs), global depository receipts (GDRs) and American depository receipts (ADRs), Transgene Biotek said in a filing to Bombay Stock Exchange (BSE).
The fund raising would be subject to the approval of shareholders, it added.
The board also decided to increase the authorised capital of the company to Rs 75 crore from the present Rs 20 crore.
Shares of Transgene Biotek were today trading at Rs 59 on the BSE in late afternoon trade, up 3.69 per cent from its previous close.
The board also decided to increase the authorised capital of the company to Rs 75 crore from the present Rs 20 crore.
Shares of Transgene Biotek were today trading at Rs 59 on the BSE in late afternoon trade, up 3.69 per cent from its previous close.
Transgene in the red
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BS Reporter /
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Transgene Biotek Ltd reported a net loss of Rs 2.85 lakh for the three months ended March 31, 2011, mainly due to Rs 51 lakh additional expenditure on account of currency fluctuation. Sales revenues were Rs 7.23 crore, while expenditure was Rs 6.58 crore. The profit and revenues in the same quarter of 2009-10 were Rs 15.55 lakh and Rs 1.1 crore respectively.
For the full year of 2010-11, the company registered a net profit of Rs 14.84 lakh, a decline of 61 per cent from Rs 38.16 lakh in the previous fiscal. Revenues during the year grew nearly three-fold to Rs 10 crore (Rs 3.98 crore). The bulk drug division accounted for 70 per cent of its annual revenues, with the rest coming from diagnostic services.
Transgene sells tech to TSS Export
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BS Reporter / Chennai/
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City-based Transgene Biotek Limited, a biotechnology company, has announced the sale of technology for recombinant human erythropoietin (rh-EPO) to TSS Export GmbH FZE, one of the group companies of Germany-based TSS group, for $5 million (Rs 26 crore).
The technology transfer and the sale of this technology is expected to be completed within 5-6 months. KK Rao, managing director of Transgene Biotek, said, “This transaction fulfils the pledge we made earlier this year to focus on revenue generation whilst monetising the sale of under utilised bio-generic drug assets, those developed by the company during the last 7-8 years, but which we now feel do not fit into our new agenda for sustained growth.”
Transgene Biotek recently commenced commercial manufacturing of DHA (Docosahexaenoic acid), an omega-3 fatty acid, which has seen explosive growth in the nutraceuticals and health supplements market.
The company is in the process of expanding its in-house infrastructure to augment production capacities for DHA and other APIs, and hopes to start commercial manufacturing of its second API (active pharmaceutical ingredient), called Tacrolimus. It is in discussion with a number of manufacturers in Europe and North America for strategic partnerships to manufacture and distribute these products, the release said.
Transgene Biotek joins hands with FII, to delist shares
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The company is in the process of sending the postal ballot to all its shareholders seeking their approval
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Press Trust of
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Pharmaceutical company Transgene Biotek has announced that Mauritius-based Stream Value Fund has agreed to join hands on a long-term basis to support its drug discovery activity, in return for equity participation and certain rewards on drug licensing or sale.
Last week the Hyderabad-based company said it is offloading undisclosed quantum of stake to a foreign institutional investor as a result of which the company's shares will be delisted from domestic stock exchanges.
The company is in the process of sending the postal ballot to all its shareholders seeking their approval.
If delisting is successful, the management of Transgene said, it will enjoy enhanced flexibility without requirement to comply with a long list of regulators' rules and regulations which often hinder efforts to speed up the drug development process.
Transgene has a pipeline of more than six molecules in development - both novel bio-technology and bio-generic drugs, the release said.
The two recent animal studies on its oral insulin project have yielded exceptional results that give rise to confidence that Transgene will soon be in strategic partnership with a large pharma company, the company said.
If delisting is successful, the management of Transgene said, it will enjoy enhanced flexibility without requirement to comply with a long list of regulators' rules and regulations which often hinder efforts to speed up the drug development process.
Transgene has a pipeline of more than six molecules in development - both novel bio-technology and bio-generic drugs, the release said.
The two recent animal studies on its oral insulin project have yielded exceptional results that give rise to confidence that Transgene will soon be in strategic partnership with a large pharma company, the company said.
Transgene Biotek to delist from Indian stock exchanges
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Apart from Bombay Stock Exchange, the company is also listed on Luxembourg Stock Exchange
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Press Trust of
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Biotechnology firm Transgene Biotek today said that its board of directors has decided to delist its shares from Indian stock exchanges.
"The board of directors of the company at its meeting held on September 3, 2012, inter alia, has decided to delist the equity shares of the company from the all the recognised Indian Stock Exchanges," Transgene Biotek said in a filing to BSE.
Apart from Bombay Stock Exchange, the company is also listed on Luxembourg Stock Exchange.
Transgene Biotek said its proposal to delist is subject to approval of shareholders of the company and statutory approvals.
The company, however, did not assign any reason for the delisting.
Shares of Transgene Biotek were today trading at Rs 11.25 per scrip in the afternoon trade on BSE, up 4.85% from its previous close.
Founded in 1991 by Koteswara Rao, the Hyderabad-based company is among the first biotechnology companies inIndia
It has products in the therapeutic areas of cancer, auto immunity and other bio-generics apart from drug delivery devices for ailments such as diabetes and HIV infection.
Transgene Biotek said its proposal to delist is subject to approval of shareholders of the company and statutory approvals.
The company, however, did not assign any reason for the delisting.
Shares of Transgene Biotek were today trading at Rs 11.25 per scrip in the afternoon trade on BSE, up 4.85% from its previous close.
Founded in 1991 by Koteswara Rao, the Hyderabad-based company is among the first biotechnology companies in
It has products in the therapeutic areas of cancer, auto immunity and other bio-generics apart from drug delivery devices for ailments such as diabetes and HIV infection.
FII to pick stake in Transgene Biotek
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As a result of which the company's shares will be delisted from domestic stock exchanges
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Press Trust of
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Transgene Biotek today said it is offloading undisclosed quantum of stake in the company to a foreign institutional investor as a result of which the company's shares will be delisted from domestic stock exchanges.
Last week the company had announced that its board has decided to delist its equity shares from all the recognised Indian Stock Exchanges.
"Our announcement in the recent days has been triggered by an approach by a SEBI-registered FII to join hands with Transgene's promoters on a long term basis. This is to support company's drug discovery activity in exchange for equity participation and certain rewards on drug licensing or sale," Transgene Biotek said in a filing to BSE.
Without disclosing details such as the name of the FII or the quantum of stake to be offloaded, the company said one of the preconditions set by the investor that has approached it to support drug discovery activity was delisting.
"The investor shall join the promoter group and shall have a seat on the board, both events only, after the completion of delisting process," Transgene Biotek Managing Director KK Rao told PTI in an emailed response.
He further said the investor is backing the promoters in the delisting process for acquisition of the listed shares.
Transgene Biotek 's board has approved an exit price not lower than the floor price of Rs 25 per share.
In the event of the delisting being successful, the new management of Transgene will enjoy enhanced flexibility. It may at some point choose to increase exposure to western markets (besidesLuxembourg
As per latest data available on BSE, till the quarter ended June 2012, the promoters held 36.83% stake in the company. Out of a total public shareholding of 63.17%, FIIs held 6.99% stake.
The company further said that the lower market value of the company's stock despite progress of its product pipeline was also one of the reasons behind the proposed delisting.
The two recent animal studies on the company's oral insulin project for diabetes have yielded exceptional results that gives rise to the confidence that soon it would be in strategic partnership with a large pharma firm, it said.
"Yet we continue to see erosion in company value accompanied by perceived investor pessimism, and this has led to the approval by the board for de listing," Transgene Biotek said.
Shares of Transgene Biotek today closed at Rs 11.41 a scrip on the BSE, up a steep 4.97% from its previous close.
Without disclosing details such as the name of the FII or the quantum of stake to be offloaded, the company said one of the preconditions set by the investor that has approached it to support drug discovery activity was delisting.
"The investor shall join the promoter group and shall have a seat on the board, both events only, after the completion of delisting process," Transgene Biotek Managing Director KK Rao told PTI in an emailed response.
He further said the investor is backing the promoters in the delisting process for acquisition of the listed shares.
Transgene Biotek 's board has approved an exit price not lower than the floor price of Rs 25 per share.
In the event of the delisting being successful, the new management of Transgene will enjoy enhanced flexibility. It may at some point choose to increase exposure to western markets (besides
As per latest data available on BSE, till the quarter ended June 2012, the promoters held 36.83% stake in the company. Out of a total public shareholding of 63.17%, FIIs held 6.99% stake.
The company further said that the lower market value of the company's stock despite progress of its product pipeline was also one of the reasons behind the proposed delisting.
The two recent animal studies on the company's oral insulin project for diabetes have yielded exceptional results that gives rise to the confidence that soon it would be in strategic partnership with a large pharma firm, it said.
"Yet we continue to see erosion in company value accompanied by perceived investor pessimism, and this has led to the approval by the board for de listing," Transgene Biotek said.
Shares of Transgene Biotek today closed at Rs 11.41 a scrip on the BSE, up a steep 4.97% from its previous close.
