lpca Laboratories Ltd’s shares were up by 0.78 per cent after the company finalised a technology transfer agreement with Omexa Formulary Pvt Ltd, aimed at biosimilar development for the global market. lpca will grant Omexa a non-exclusive right to research, develop, manufacture, and market an anti-cancer biosimilar globally.

The company said the collaboration empowers Omexa to progress from the early stages of biosimilar development to clinical trials and eventual commercial launch.

Pranay Godha, Managing Director and CEO of lpca Laboratories, said, “This collaboration with Omexa Formulary, an innovation-driven and fast-growing biotech company, shall facilitate Omexa to build a solid foundation for potential anti-cancer and anti-inflammatory monoclonal antibody product development… (and) the development and delivery of affordable and quality biologic medication for the treatment of chronic illnesses in the global market — a presently unmet and crucial clinical need. lpca is committed to successfully developing quality and affordable biosimilars, meeting global standards and gaining a decisive edge in the battle against chronic ailments.”

The shares were up by 0.78 per cent to ₹1,210.50 at 2.08 pm on the BSE.