Syngene to acquire multi-modal facility in Bangalore from Stelis Biopharma for $86m.

Syngene, an integrated research, development, and manufacturing services company, agreed to acquire multi-modal facility in Bangalore from Stelis Biopharma, a pharmaceutical company, for $86m. “This acquisition strengthens our growing position as a leading biologics contract development and manufacturing service provider and adds drug substance capacity and a drug product capability years earlier than our internal capex program. We see healthy demand for high quality biologics manufacturing capacity from sectors ranging from large pharma to emerging biotech companies. In each case, outsourcing to an experienced partner like Syngene is an attractive route to reliably deliver high quality products to market. We expect this facility to be operational in 2024, following completion of a programme of facility upgrades and re-validation,” Jonathan Hunt, Syngene Managing Director and CEO.