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ACG has acquired a significant stake in IQGEN-X, a Mumbai-based start-up contract research organization (CRO).
Supplier of integrated pharmaceutical manufacturing solutions, ACG, has revealed in a Nov. 3, 2020 press release, that it has acquired a significant stake in IQGEN-X, a Mumbai-based start-up contract research organization (CRO).
The investment supports ACG’s augmentation into R&D and intellectual property in drug development. Additionally, ACG’s funds into the start-up will be used to set up a current good practice manufacturing facility and the development and filling of abbreviated new drug applications (ANDAs).
“IQGEN-X’s excellent track record in patents and ANDAs speaks for itself, and we look forward to benefitting from its niche technology, broad-based expertise, and research specialization that has been recognized globally by WHO [World Health Organization] and the US FDA [Food and Drug Administration],” said Karan Singh, managing director, ACG, in the press release. “For ACG, this partnership will immediately help expand our group capabilities, and will accelerate our innovation strategy of bold, disciplined investment and world class execution to drive sustainable long-term growth with drug companies in India and global markets.”
Dr. Mandar M Kodgule, chairman and CEO, IQGEN-X commented, in the press release, “We at IQGEN-X are delighted to have ACG as partner whose strong global footprints and excellent operational capabilities, bring great synergy to IQGEN-X’s growth strategy. ACG's strategic investment augments our technical expertise, portfolio strategy, and corporate vision to create a robust portfolio of limited competition complex products for regulated markets. We believe that this partnership will open several other opportunities which will accelerate growth of both companies.”