Syngene scientists to work with GSK to advance drug discovery

Contract research services company Syngene International (BSE: 539268) today announced an R&D agreement with UK pharma major GlaxoSmithKline (LSE: GSK), sending the Indian firm’s share up 3.9% to 588.05 rupees.

The multi-year agreement will focus on accelerating the discovery of new drug candidates using Syngene's discovery services platforms.

As part of the accord, Syngene will set-up a customized discovery research laboratory to support projects across several therapeutic areas. A team of Syngene scientists will work closely with GSK's global R&D teams on discovery research projects to identify new drug candidates with the potential to address some of the world's most pressing healthcare needs.

Syngene started offering discovery services to global R&D focused organizations from 1994 onwards. Over the years, the company has consolidated its leadership position in offering integrated discovery, development and manufacturing services across small and large molecules within both the pharmaceutical and biotechnology industries.

Commenting on the collaboration, Jonathan Hunt, chief executive of Syngene International, said: "We are very proud to add a world class scientific organization like GSK to our growing list of strategic partners. The collaboration in many ways underlines Syngene's position as one of the most innovative, capable and cost effective providers of discovery research services to the global pharma industry. GSK is a global industry leader and we believe Syngene's scientific capabilities and expertise will complement GSK's efforts to discover and develop new medicines to benefit patients worldwide."