Syngene International surges after inking deal with Strand Life Sciences

Syngene International entered into a deal with Strand Life Sciences to purchase systems biology and pharma services practice. The company has purchased assets of Strand Life Sciences related to systems biology, Heptox, and pharma bioinformatics services.

Syngene is constantly looking for new opportunities to expand its service offerings and plans to expand into areas such as NGS, translational R&D, predictive toxicology and pre-emptive target validation services. All of these areas require strong bioinformatics capabilities.

According to Transparency Market Research, the global bioinformatics market is estimated to grow at CAGR of 25.4 per cent to USD 9.1 billion in 2018. This deal gives Syngene the access to Strand's patented virtual liver model and the NGS analytics platform. The virtual liver model is designed to predict the toxic effect of different drugs or chemicals on the liver (both rat and human) using information from laboratory-based experiments prior to actual testing on live animals or humans.

The share price of Syngene increased by 8.97 per cent on bourses in early trades and is trading at Rs 502.5 on an intra-day basis.