M&A

M&A

Stelis Biopharma sells Bengaluru facility to Biocon arm Syngene for Rs.702-Cr

Press Release   Business Standard  

Stelis Biopharma, the biopharmaceuticals contract development and manufacturing organization (CDMO) and biologics arm of publicly listed Strides Pharma Science, is divesting its multi-modal manufacturing facility at Bommasandra Industrial Area, Bengaluru on a slump sale basis for a gross value of INR 702 crore to Syngene International, the research arm of biotech firm Biocon. The facility, which was initially built to manufacture Covid 19 vaccines, is now being repurposed to manufacture monoclonal antibodies. Syngene will further invest INR 100 crore (USD 12 million) to repurpose and revalidate the facility.