The Hindu Business Line : Biocon plans to acquire Nobex's IP assets

BIOCON will seek to acquire the intellectual property of its research collaborator Nobex Corporation, which has applied for cover under Chapter 11 of US bankruptcy laws, Biocon informed the BSE.

The Bangalore-based biotechnology company and Nobex have been co-developing the revolutionary tablet-form oral insulin — IN105 — for both Type 1 and Type 2 diabetics.

Biocon said it has invested $5.8 million (around Rs 27 crore) in Nobex — $1 million as common stock and the rest in convertible loans.

"Based on progress made till date, the company does not anticipate any disruption to its ongoing oral insulin research program, licensed from Nobex. The company is also seeking to acquire the intellectual property assets of Nobex," Biocon said.

The Biocon CEO, Ms Kiran Mazumdar-Shaw, told Business Line, "Biocon is seeking all IP assets of Nobex. Biocon has exclusive licensing rights, which, as per the agreement, survive any event of bankruptcy. Biocon is in a position to select any options that it chooses."

As for its plans for oral insulin, "Our IN105 programme remains on track; there is no rescheduling," she said.

The two announced their tie-up in October 2004 for what could be the world's first oral insulin product.

It rode on Nobex's technology platform for an alternative route to deliver insulin to the body and Biocon's supply of bulk insulin that it manufactures.

The project had completed pre-clinical or animal trials. Biocon had earlier said it planned to apply for regulatory clearance to begin human trials in India around the middle of 2006 and also file an INDA (investigative new drug application) with the USFDA by then.

The 11-year-old Nobex was also working with Biocon to develop an oral peptide product to treat acute congestive heart failure or cardiovascular diseases.

Called the hBNP (human brain-type natriuretic peptide) programme, this venture was planned for INDA filing in 2007 before going into clinical trials.