Syngene hits 52-week high, acquires assets of Strand Life

Moneycontrol BureauShares of Syngene International touched 52-week high of Rs 524.45, advances 9 percent intrday Thursday as it closes deal with Strand Life Sciences to buy systems biology & pharma services.The company has purchased assets of Strand Life Sciences related to systems biology, Heptox and pharma bioinformatics services."This includes target dossier business and rights to NGS data analytics and Sarchitect platforms, supported by a strong scientific team," as per company release.Jonathan Hunt, CEO of Syngene International said, “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."This deal gives the company access to Strand’s patented Virtual Liver model and the NGS analytics platform.At 09:26 hrs Syngene International was quoting at Rs 507, up Rs 25.70, or 5.34 percent on the BSE.Posted by Rakesh Patil