Bangalore, Mar 14 (UNI) Biocon Limited, India's premier biotechnology company today announced that its subsidiary company Syngene has entered into a research partnership with Bristol-Myers Squibb for research and development (R&D) services for discovery and early drug development.

Bristol-Myers Squibb would significantly increase the scope of its existing relationship with Biocon's Syngene to further develop integrated capabilities in India in medicinal chemistry, biology, drug metabolism, and pharmaceutical development Biocon said in a release here.

Under the terms of the agreement, Syngene would partner with Bristol-Myers Squibb through a dedicated research facility at Biocon Park here, which was planned to ultimately house more than 400 scientists to help advance Bristol-Myers Squibb's discovery and early drug development.

Leveraging the current global demand for bio-partnering, this alliance aimed to provide cost-effective growth and access to top scientific talent in India.

"We are delighted to announce this one-of-a-kind discovery research partnership with Bristol-Myers Squibb, a recognized global healthcare leader," said Dr. Kiran Mazumdar-Shaw, Chairperson of the Biocon Group "The new research facility will mark a significant step forward in our evolution as a valuable partner to the global pharmaceutical industry." UNI