Venus Remedies Gains 4% After Licensing Deal with UK’s Infex

On the BSE, Venus Remedies shares noted a rise of 4.2 percent and reached an intraday high of Rs 320 per share during Tuesday’s trade. The contract was actively purchased after the company entered into an exclusive license contract with a UK based anti-infectives company, Infex Therapeutics for the MET-X clinical development.

At around 12:04 PM in the market, Venus Remedies was trading at Rs 316.15 per share, which translates to an increase of 2.96 percent. On the other hand, the BSE Sensex was noted at 74,610.27, marking an increase of 0.21 percent. The company features a market capitalisation of Rs 422.6 crore. The all time high of the stock for the past twelve months was Rs 427.3 per share, while the 52 week low remains at Rs 272.2 per share. “Today, Infex Therapeutics, a UK based anti-infectives company put out a release, stating that Venus Remedies, a prominent Indian pharmaceutical company, has recently signed an exclusive license contract with them for the MET-X clinical development,” said the company's statement.

The permit allows Venus Remedies to manage the clinical development, registration, and commercialisation of MET-X, a new MBL inhibitor. This phase of development will include combining MET-X with meropenem to overcome drug resistant Gram negative, for which Venus Remedies has exclusive marketing rights in India.

As per the agreement, Venus Remedies shall proceed with a Phase I study with healthy subjects from India for evaluation of MET-X along with meropenem, and post the successful Phase 1, the focus will be on Phase II/III studies for drug resistant complicated urinary tract infections. 

READ MORE: Venus Remedies share price rises 12% after renewing EU GMP certification  

Venus Remedies is a dominant Indian owned pharmaceutical company that serves customers around the world with passion and relentless innovation. The company markets a variety of products, including antibiotics and anti-cancer medications, that are well accepted in the market by both medical practitioners and patients. 

In the last year Venus Remedies shares have dropped over 11 percent compared to a 2.2 percent increase in Sensex.