I was delighted to lead our celebration of three decades of scientific excellence this year. Throughout this journey, we have pushed the boundaries of innovation and delivered impactful solutions to clients from a range of sectors including pharmaceuticals, biotechnology, nutrition, animal health, consumer goods and specialty chemicals.
Over the years, we have built up our campus in Bangalore from our roots in discovery science to include the development and manufacturing services that we have today, while adding two additional campuses in Mangalore and Hyderabad for commercial manufacturing and discovery research respectively. Today, these investments mean that we can offer a broader range of integrated services than most other contract research, development and manufacturing organizations (CRDMOs) gaining valuable time and efficiency for clients.
We have invested widely in technology recognizing its potential to reshape and enhance research and development processes: we have a fully digitized Quality system; and we have completed a program to introduce electronic lab notebooks for all science-led teams across the company. Leveraging advances in computational and data science as well as automation in discovery research, we have enabled clients to achieve more targeted results, faster, thereby reducing project costs. In our laboratories, our adoption of new technologies such as PROTACs, cell and gene therapy, antibody drug conjugates and oligonucleotides has further enhanced our capabilities.
Syngene’s client-centric ethos has fostered numerous enduring partnerships, exemplified by the 10-year manufacturing agreement signed with Zoetis in FY22. Furthermore, our Dedicated Centers, have served as the cornerstone for long-term collaborations with Amgen, Bristol Myers Squibb (BMS), and Baxter, underscoring our commitment to cultivating close alliances that transcend conventional project-based models.
We made the decision several years ago to forward integrate into the development and manufacturing segments of the value chain creating a balanced business with two growth engines: contract research services (CRO); and contract development and manufacturing (CDMO) for small and large molecules. This approach enables us to cater for diverse customer requirements and expedite product delivery to market.
Highlights of the year included:
The acquisition of the biologics manufacturing facility from Stelis Biopharma Ltd offering additional capacity for large molecule drug substance and drug product manufacturing
Commissioning of a facility for purifying and separating chiral and Highly Potent APIs. By integrating purification and separation in-house, we offer clients a seamless journey from initial synthesis to final purification
Commissioning of a digitally-enabled quality control laboratory to complement the new biologics manufacturing site. Leveraging advanced technology, this facility will optimize operational efficiency and uphold the highest standards of quality and traceability in our manufacturing processes
Commissioning of a centralized compound management facility in Hyderabad to serve as a central storage facility for all compounds synthesized by Syngene
The acquisition of 17 acres of land in Genome Valley, Hyderabad, to accommodate future growth
Upholding global quality standards is a key element of our license to operate, so we were pleased to receive US FDA approval for the API manufacturing facility in Mangalore in July 2023 to add to the approvals from the US, European and UK regulatory authorities for our biologics facilities in the previous fiscal year. We also completed 87 onsite client and regulatory audits during the year.
In recognition of our drive for excellence, the Company was identified as one of ‘India’s Best Managed Companies’ by management consultant, Deloitte India.
Looking ahead, we are encouraged by the positive signals in the global outsourcing markets: the funding for US biotech companies has resumed, having dipped in the period following the pandemic. Many small and medium-size biotechs choose to outsource their research and development so, with their funding in place, we expect to capture our share of their projects in the second half of the current fiscal year.
Among large corporations we are seeing a shift towards de-risking supply chains through dual-sourcing and in some cases, a desire to reduce dependence on China. We believe Syngene will be able to capitalize on this opportunity as India emerges as an attractive supplementary outsourcing destination.
Drawing this review of the year to a close, I would like to thank my Syngene colleagues for their contributions over the past 12 months. I have valued the guidance of our Board and the support of shareholders and stakeholders in ensuring that we stay true to the long-term vision for the company. I believe that the year ahead will mark the start of a new phase of growth for our company and I am confident that we are well positioned to be successful.
Inauguration of the land acquired in Genome Valley, Hyderabad
Central Compound Management (CCM) facility in Hyderabad
