– Investment objective is to increase R&D in drug development and IP
– The fund infusion will enable the IQGEN-X for fast-track research on existing ANDAs and set up a cGMP pilot facility in addition to the already existing R&D facility.
Mumbai, India, 3 November 2020 / PRNewswire / – ACG, a leading supplier of integrated pharmaceutical manufacturing solutions, announced the acquisition of a significant stake Mumbai-Bed start-up IQGEN-X. IQGEN-X is a contract research organization (CRO) delivering niche and complex drug development technologies for the pharmaceutical industry.
This move further expands ACG to the R&D side of drug development and supports a firm group-wide commitment to improve customer experiences across supply and value chains.
Investment by ACG also comes at a turning point when the Indian government is on the verge of announcing a new policy by promoting the benchmark R&D ecosystem globally. The funds sent by the ACG will be used to establish the cGMP facility and to develop and file new ANDAs.
“IQGENX’s excellent track record in patented and abridged new drug applications (ANDAs) speaks for itself, and we look forward to benefiting from its niche technology, broad-based expertise and research expertise that has been recognized by WHO and the US FDA worldwide. Level recognition, “said Karan Singh, Managing Director, A.C.G. “For ACG, this partnership will immediately help expand our group capabilities, and accelerate our innovation strategy of bold, disciplined investment and world-class execution for long-term sustainable growth with pharmaceutical companies. India And global markets. “
Dr. Mander M. Kodagule, President and CEO, IQGEN-X, commented that “We at IQGEN-X are pleased to be ACG’s partners, whose strong global footprint and excellent operating capability bring great synergy to IQGEN-X’s growth strategy Huh. ACG’s strategic investment regulates our technical expertise, portfolio strategy and corporate vision to create a strong portfolio of complex products that compete narrowly for regulated markets. We believe that this partnership will open many other opportunities that will accelerate the growth of both companies.
IQGENX was founded in October 2016With a vision of innovative research and technology to produce high quality, inexpensive, safe and effective medicines. Its state-of-the-art R&D facility specializing in niche and complex generic products, technology transfer, regulatory, IP and compliance enables it to cater to the US, European and other highly regulated markets. Led by health experts and pharmaceutical scientists with a combined experience of more than 150 years, the company is on the way to developing a fully integrated pharmaceutical company from a contract research organization (CRO).
ACG has been providing innovative and integrated solutions to the global pharmaceutical and nutraceutical industries for nearly 60 years, in over 100 countries across six continents. ACG products include capsules, film and foil barriers, engineering equipment and inspection systems. Fully complies with all international regulatory requirements.
Connect for press inquiries:
Head – Corporate Communications
Content is by PR Newswire. Tech Media is not responsible for the content provided or any link related to this content. Tech Media is not responsible for the accuracy, timeliness or quality of content.