Matrix Laboratories Ltd has acquired 43 per cent stake in Explora Laboratories S.A, a technology platform company based in Mendrisio, Switzerland.
Explora Laboratories is engaged in the R&D of Active Pharmaceutical Ingredients (APIs) and Intermediates through chemical, biochemical and fermentation processes. Explora's expertise in the area of bio-catalysis is very helpful in the development of Corticosteroid and other High Potency APIs such as anti molecules. It also has expertise in the development of specialized and modified release dosage forms, said a Matrix Labs release.
Managed by a team of scientists, Explora also possesses know-how in the chemistry of Nucleic Acids (DNA & RNA derivatives) that are mainly used in the development of anti-viral and anti-cancer drugs. Explora has filed two patents to cover its inventions in the area of enzymes immobilization, which is critical for the development of processes involving enzymatic reactions.
According to the company release, the company has a large portfolio of products in the therapeutic segments of CNS, cardiovascular, anti-bacterial, anti-viral, anti-retroviral, anti-asthma, anti-histamine, anti-fungal, proton pump inhibitors and pain management. Access to Explora's scientific team would accelerate the entry of the company into high potential growth and niche areas such as Corticosteroid and anti cancer segments. In addition to development of niche generic APIs, Explora's technology platforms would also provide a unique opportunity to the company in the area of contract research and manufacturing for the multinational branded pharmaceutical companies.
Explora is presently pursuing third party research work for a group of generic and branded pharmaceutical companies including the company. Explora expects to record a revenue of 2 million Swiss francs (CHF) for the calendar year 2005, added the release.
Commenting on the development, Rajiv Malik, the CEO of Matrix said, "The technology platforms, experienced management, pipeline of products and the business contracts that are in place make Explora a unique company. Our investment in Explora makes business sense as this company can add synergy to Matrix in the area of anti cancer and steroids, the two therapeutic segments in which we are not present at the moment."