BANGALORE-BASED BIOCON TO LICENSE INTELLECTUAL PROPERTIES BOUGHT FROM NOBEX INC

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BANGALORE-based Biocon has decided to license some of the intellectual properties (IPs) which it acquired from Nobex Inc, according to the company’s annual report for 2006-07.

Biocon got a basket of IPs got when it emerged as the successful bidder for the assets of Nobex. These include technologies for oral insulin, oral BNP, basal insulin and Apaza. Biocon had a total commitment of Rs 49.6 crore in Nobex.

Of this basket, Biocon’s board of directors had as of October 2006 decided to lease out Apaza. Consequently Biocon has begun amortising the cost of acquisition of the Apaza IP over its estimated useful life of five years and has provided for Rs 90 lakh in the accounts for the year ended March 31, 2007. The other IPs from Nobex are being carried at cost in the balance sheet.

Another area where Biocon is keen to make its presence felt is enzyme solutions notably in case of bio-fuels.

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