Syngene acquires Strand Life Sciences assets
New Delhi : Shares of Syngene International rose sharply by 9 per cent after the contract research firm acquired assets of Strand Life Sciences related to systems biology and pharma bioinformatics services for an undisclosed sum.
The scrip soared 8.96 per cent to touch its one-year high of Rs 524.45 on BSE.
At NSE, shares of the company surged 9 per cent to Rs 523.90 - its 52-week high.
As part of a deal reached between the two firms, Syngene will also acquire the target dossier business and rights to NGS (next generation sequencing) data analytics and Sarchitect platforms and Heptox.
"We believe Strand's bioinformatics platforms not only complement our existing integrated service platforms but will also meet our customers growing needs for bioinformatics and data analytic support," Syngene International CEO Jonathan Hunt said.
Strand NGS is an integrated platform that provides analysis, management and visualisation tools for next-generation sequencing data, the statement added.