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Pharmaceuticals

Biocon wins Nobex auction

April 3, 2006 | A version of this story appeared in Volume 84, Issue 14

The Indian biotechnology firm Biocon has emerged as the winning bidder for the assets of Research Triangle Park, N.C.-based Nobex, which declared bankruptcy in December. After submitting an opening bid of $3.5 million, Biocon finally captured the assets for $5 million. Biocon gains access to Nobex's alkylPEGylation technology for conjugating polymers to drug molecules, as well as the full rights to oral insulin and calcitonin drugs. Nobex and Biocon teamed up to develop Nobex's oral insulin in 2004, a year after GlaxoSmithKline, Nobex's original partner for the drug, backed out of their alliance.

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