The Board of Directors of SciGen Limited (ASX:SIE) ("SciGen")
announce that it has closed the transaction on the sale of
49.99% of SciGen's interest in SciGen BioPharma Pvt Ltd
("SciGen BioPharma") to Tek-Gen Holdings Limited ("TGH"), in
accordance with the Investment Agreement dated March 15, 2010
signed with Anglo Gulf Ltd.
TGH, a company incorporated in Cyprus is part of a Group
which has over 30 years presence in the pharmaceutical
industry and has extensive experience in the development,
sales and marketing of biotechnology derived and other
pharmaceutical products on international markets.
SciGen now holds 50.01% of the equity interest in SciGen
BioPharma. SciGen has entered into a shareholders' agreement
with TGH in respect of the ongoing corporate governance
arrangements of SciGen BioPharma.
SciGen BioPharma is in the process of the final development
of a biotechnological pharmaceutical production facility
located in Pune, India, which is intended to manufacture
recombinant human insulin and other biotechnology products in
accordance with European and American standards. The facility
is expected to be fully operational by the end of 2012.
About SciGen
SciGen Ltd is a progressive biopharmaceutical company
involved in co-developing and marketing genetically
engineered biopharmaceutical products for human healthcare.
SciGen focuses in the areas of gastroenterology,
endocrinology and immunology. Its product portfolio includes
therapeutics such as rhuman Growth Hormone, rhuman Insulin
and GCSF.
SciGen has acquired the rights to manufacture, distribute and
market biopharmaceutical products under exclusive licensing
arrangements. SciGen's portfolio currently includes
proprietary biotechnology-derived products, and biosimilar
products, which allows for faster
entry into the market, as the biogeneric products have
undergone much of the clinical
SciGen Limited ARBN 101 318 852 Suite 1, 13B Narabang Way, Belrose, NSW 2085 Australia
Telephone : + 61 2 9485 1800 Facsimile : + 61 2 9485 1888
Website: www.scigenltd.com
development and trials required to bring new drugs to market.
This minimises the risks associated with early stage product
development.
SciGen currently undertakes R&D activities in collaboration
with strategic partners and institutions.
SciGen's major strength lies in its ability to recognise the
potential of new products in their early stages of
development. Through joint collaboration with its strategic
partners, SciGen uses its extensive expertise in regulatory
and clinical environments, in conjunction with marketing and
promotional infrastructure, to bring to market products which
will have significant long-term benefit.
SciGen's business was established in 1988. SciGen is a
Singapore biotechnology company, publicly listed on the
Australian Stock Exchange (ASX code SIE). SciGen's
headquarters is in Singapore and it also has subsidiary
companies and offices in Australia, South Korea, Vietnam,
China, India and Philippines, distribution channels in
Taiwan, China, India, Pakistan, Thailand and Indonesia,
manufacturing facility in India and a contract
manufacturer
in Poland, Bioton S.A.
For further information: Company - Investor Relations | Company |
Ms. Gillian Dunlop SciGen (Australia) Pty Ltd +61 2 9485 1800 Email: gdunlop@scigen.com.au | Slawomir Ziegert CEO SciGen Ltd +65 6779 6638 |
SciGen Limited ARBN 101 318 852 Suite 1, 13B Narabang Way, Belrose, NSW 2085 Australia
Telephone : + 61 2 9485 1800 Facsimile : + 61 2 9485 1888 Website: www.scigenltd.com
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