Transgene Biotek Ltd is in close discussions with a European pharma major to out-license its novel process to manufacture ‘Tacrolimus’ — an immuno suppressant product.

While refusing to name the European firm, the Hyderabad-based company’s Chairman and Managing Director, K. Koteswara Rao, told newspersons today that Tacrolimus and another process to make DHA, an Omega-3 fatty acid, are attracting interest .

While Tacrolimus is used to aid organ transplant patients, DHA is in huge demand as a healthcare supplement. The company has facilities to make both these APIs (Active Pharmaceutical Intermediates). “We are talking to several players to explore commercial manufacture and marketing of these products,” he said.

Transgene Biotek had out-licensed Orlistat technology (to make the anti-obesity drug) to Dr Reddy’s Laboratories in December 2009. It got upfront payments as well. However, it depends on Dr Reddy’s to take it forward, he said in response to queries.

The research-driven company has a strong pipeline including oral delivery of insulin, a therapeutic AIDS vaccine, monoclonal antibody-based candidate drug, which it hopes to out-license.

Company valuation

The valuation of the company has been rapidly falling despite this rich intellectual property. Concerned with this, it has joined hands with the Mauritius-based, Stream Value Fund, to shore up the financials and build strengths so that it can out-license the technologies. The over $1-billion fund has given an acceptance letter. The Hyderabad company has sent out a postal ballot seeking shareholder not to delist and get the investor in, and a decision is expected on November 6, he added.

> somasekhar@thehindu.co.in

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