Aurobindo Pharma & Tergene Biotech to form JV for vaccines.

Aurobindo Pharma Ltd. plans to form a joint venture (JV) with the Hyderabad-based Tergene Biotech Private Limited, a vaccine development company, for developing pneumococcal conjugate vaccine (PCV). 'The Board of Directors of the company at its meeting held on February 04, 2015, inter alia, has approved the proposal for setting up a joint venture with based in India. Tergene works on development of the pneumococcal conjugate vaccine,' said Aurobindo Pharma in a BSE filing.

Tergene is currently working on development of the PCV through use of novel vaccine technology compressing time and cost, thereby making such vaccine available at an affordable cost, claims Aurobindo Pharma in the filing.

Pneumococcal conjugate vaccine is a commercially available vaccine with limited competition and a global branded market of more than $5 billion. Aurobindo will hold a majority stake in the JV and will fund the product development in a phased manner spanning over three years. The financial terms are subject to entering into definitive agreements.

Tergene Biotech, which is promoted by a scientist turned entrepreneur Dr Mosuvan Kuppusamy, started its research & development activities in 2010 by acquiring lab space in Biotechnology Incubation Center in Hyderabad. It has developed the multivalent pneumococcal conjugate vaccine (PCV-15) by employing an innovative micro reactor based conjugation chemistry.

Tergene Biotech is setting up a GMP facility at Hyderabad for manufacturing of vaccines, biopharmaceuticals and probiotics. The facility is expected to be operational by end of 2015.

BS