Agreement Details
Symbiotec Pharmalab Limited has entered into a 10-year, take-or-pay contract development and manufacturing agreement with a European alternative protein innovator. The agreement involves manufacturing fermentation-based alternative protein for the European partner.
Production Facilities and Capacity
The production will be based at Symbiotec's biomanufacturing campus in Ujjain, which currently features:
- Four 100 kilolitre (kL) fermenters
- Modular downstream processing capabilities
- Integrated quality assurance and quality control capabilities
Production will begin at the existing facility, with plans for a new dedicated plant of several hundred thousand litres of fermentation capacity to follow. The agreement includes contracted expansion options reserved for the partner that could expand the program into millions of litres capacity.
Technical Process
The agreement involves precision fermentation technology, which uses engineered microorganisms to produce proteins traditionally derived from animals.
Strategic Rationale
According to Mr. Anil Satwani, Managing Director, this agreement represents "a major milestone in creating the clean, nutritious alternatives that consumers increasingly seek." The company positions itself to serve the alternative protein, human nutrition, and industrial bioproducts sectors.
Contract Terms
The agreement is characterized as "take-or-pay," meaning the partner is obligated to either take the product or pay for the reserved capacity. The agreement reserves dedicated capacity for the partner at Symbiotec's Ujjain campus for the full 10-year term.
Financial Considerations
Details of consideration paid/received in the agreement cannot be disclosed due to confidentiality obligations with the partner.
Relationship Status
The European alternative protein innovator is not related to the promoter/promoter group/group companies in any manner. The transaction does not fall within related party transactions and is conducted at arm's length.
Company Background
Symbiotec Pharmalab Limited is a research and development-driven, science-based pharmaceutical and biotechnology company with capabilities across organic chemistry, biotechnology and complex injectables. Founded in 1995, the Company holds a global leadership position in corticosteroid and steroidal-hormone active pharmaceutical ingredients (APIs). The company serves over 200 customers across more than 40 countries through three business verticals: APIs, CDMO services, and Complex Injectables, supported by four manufacturing facilities in Madhya Pradesh, India.