Revenues to cross Rs 5cr this fiscal: Transgene Biotek

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Revenues to cross Rs 5cr this fiscal: Transgene Biotek

Transgene Biotek has sold a technology to Dr Reddy’s. In an interview with CNBC-TV18, K Koteswara Rao, Chairman and Managing Director (CMD), Transgene Biotek, speaks about the latest happenings in his company and sector.

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Transgene Biotek has sold a technology to Dr Reddy 's. In an interview with CNBC-TV18, K Koteswara Rao, Chairman and Managing Director (CMD), Transgene Biotek, speaks about the latest happenings in his company and sector.

Here is a verbatim transcript of the exclusive interview with K Koteswara Rao on CNBC-TV18. Also watch the accompanying video.

Q: I understand that you have already sold this technology to Glaxosmithline and Roche, have you? Is it the first time you have developed this technology? What are you expecting from DRL for selling this technology to them?

A: It is not correct that we have sold this technology to any other company other than Dr Reddy's (DRL). This technology has been developed in house at Transgene, over the last 3 years or so. It has been kind of out licensing deal to DRL, which involves an upfront payment as well as royalties on the sale.

Q: How much is that?

A: Unfortunately, I cannot give you the quantifying figures at this point of time because of certain statutory requirements and also certain in house agreements with DRL and Transgene. Once  DRL has also released this information then we may be able to share that in next few days.

Q: Is the upfront payment less than Rs 1 crore, less than Rs 5 crore or less than Rs 10 crore?

A: The figure is quite substantial beyond Rs 1 crore.

Q: So it is safe to say it's between Rs 1 to Rs 5 crore?

A: It is beyond Rs 1 crore.

Q: What exactly do you have in your pipeline at the moment going beyond this that would bring up your revenues because your annual revenues end up being Rs 3-4 crore, how much would they significantly move from here?

A: We expect quite significant improvement from this onwards. Probably, you may recall my interview some time last year or year before about a product called oral insulin development and I must confess that we had to pause a little bit due to paucity of funds at that time. We have now been able to re-act with that and apart from that we have just applied for getting the clearance for regulatory approvals for HIV vaccine, which is something unique. And on the same platform we have also developed drug called multiple sclerosis, which is a blockbuster.

Q: Could you tell us if at the end of this fiscal if your revenue will cross Rs 5 crore or Rs 10 crore? In the next fiscal, will it cross Rs 5 crore or Rs 10 crore?

A: Certainly, it will cross Rs 5 crore.