Syngene International Ltd., Biocon’s contract research arm, surged as much as 9.1 percent to Rs 524.5, after the company acquired biological information management and analytics assets from Strand Life Sciences Ltd. for an undisclosed sum.
The deal gives Syngene access to Strand’s patented virtual liver model and their next-generation sequencing analytics platform, the company said in a press release. The virtual liver model is used to predict the toxic effect of drugs or chemicals using information from laboratory based experiments prior to actual testing on live animals or humans.
Strand’s bioinformatics platforms will complement Syngene’s existing integrated service platforms and help meet the growing need for bioinformatics and data analytics support, Chief Executive Officer Jonathan Hunt added.
Syngene is constantly looking for new opportunities to expand its service offerings and plans to expand into areas such as NGS, translational research and development, predictive toxicology and preemptive target validation services, all of which require strong bioinformatics capabilities.Jonathan Hunt, Chief Executive Officer, Syngene International
The global bioinformatics market was estimated at $2.3 billion in
2012 and is forecast to reach a market size of $9.1 billion in 2018, according to a report from Transparency Market Research cited by Syngene.