Jubilant Life Sciences is currently trading at Rs. 194.10, up by 0.65 points or 0.34% from its previous closing of Rs. 193.45 on the BSE.
The scrip opened at Rs. 195.65 and has touched a high and low of Rs. 199.40 and Rs. 190.10 respectively. So far 1385 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 227.00 on 20-Jul-2011 and a 52 week low of Rs. 148.45 on 28-Mar-2011.
Last one week high and low of the scrip stood at Rs. 204.00 and Rs. 190.10 respectively. The current market cap of the company is Rs. 3123.50 crore.
The promoters holding in the company stood at 49.04% while Institutions and Non-Institutions held 29.78% and 21.18% respectively.
Jubilant Life Sciences’ subsidiary - Jubilant Biosys has entered into drug discovery collaboration with Mnemosyne Pharmaceutical Inc, Providence, Rhode Island that will seek to identify preclinical candidates in the area of neuropsychiatric diseases. The collaboration will focus on developing subunit selective NMDA receptor modulators (SNRMs) that Mnemosyne has identified. The alliance shall initially span a period of 2 years and may be extended on mutual consent across other therapeutic programs as well.
The multi-target program agreement will be enabled by the expertise of Mnemosyne in NMDA receptor pharmacology and supported by Jubilant’s translational center in Malvern, Pennsylvania and by scientists from Jubilant’s India based facilities. The collaboration will leverage the capabilities of the companies across medicinal chemistry, NMDA receptor pharmacology, electrophysiology, computational chemistry and DMPK and in vivo pharmacology as appropriate in progressing promising compounds that have been identified by Mnemosyne.
Under the terms of the alliance agreement, Mnemosyne will exclusively own all IP generated and shall be responsible for clinical development and commercialization.
Mnemosyne Pharmaceuticals, Inc. is a privately-held, biotechnology company focused on the discovery and development of small molecule therapeutics for the neuropsychiatry market.
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