Strides Arcolab buys 70% in biotech start-up Inbiopro

Strides Arcolab announced its entry into biologics, with the signing of an agreement to acquire 70 per cent stake in biotechnology company Inbiopro Solutions, based in Bangalore.

Inbiopro is a biotech outsourced research start-up and has eight candidate products in oncology to begin with. Strides will invest Rs 65 crore over three years in the form of growth capital to develop and commercialise the eight products. The acquisition gives Strides immediate access to a pipeline of eight products estimated to have global sales of over $28 billion. Commercialisation of these products is expected to begin in 2013.