Transgene Biotek shines post initiating drug development programme

India-based biotechnology company, Transgene Biotek Ltd, announced that the company has initiated a programme of drug development against severe acute respiratory syndrome (SARS) CoV 2 infections.

Talking about the new drug, the company mentioned in a regulatory filing made on Monday that the product is a multi-targeted fusion protein developed with the purpose of killing the virus as well as to restore innate immunity in the people affected by this disease.

Adding to this, the company informed that the drug is being developed based on their earlier experience with SARS outbreak of 2003. Taking into consideration the molecular structure, genetic makeup and mechanism of the two viruses, the company is working on a new drug to lessen the adverse effect of the new virus-SARS CoV 2, which results in Coronavirus disease.

Meanwhile, the company added that it plans to formulate this drug on its patented TrabiORAL technology platform for oral delivery of various protein and peptide drugs.

Transgene Biotek Ltd deals in diagnostic services, CRO services and API-DHA. Its portfolio of product includes oncology, auto-immunity, drug delivery and biogenerics.

At 9.21 am on Tuesday, the stock of Transgene Biotek Ltd is trading at Rs 3.86, up by 4.89 per cent against its previous close of Rs 3.68. Its 52-week high is Rs 4.80 while, its 52-week low is Rs 2.01 on BSE.