Vivo Bio Tech zooms on securing pre-clinical testing contract worth Rs 10.75 crore
Vivo Bio Tech is currently trading at Rs. 42.09, up by 4.83 points or 12.96% from its previous closing of Rs. 37.26 on the BSE.
The scrip opened at Rs. 38.00 and has touched a high and low of Rs. 43.30 and Rs. 37.00 respectively. So far 207292 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 56.90 on 07-Jan-2025 and a 52 week low of Rs. 31.20 on 14-Nov-2024.
Last one week high and low of the scrip stood at Rs. 43.30 and Rs. 36.11 respectively. The current market cap of the company is Rs. 90.32 crore.
The promoters holding in the company stood at 39.06%, while Non-Institutions held 60.94% stake in the company.
Vivo Bio Tech has secured a major pre-clinical testing contract worth Rs 10.75 crore for a novel molecule, in collaboration with a leading organization. This contract entrusts the company with the responsibility of conducting the entire spectrum of pre-clinical safety and regulatory studies. The scope of work includes, Toxicity studies across multiple endpoints; Mutagenicity evaluations to assess genetic safety; Ecotoxicology studies for environmental risk assessment; Comprehensive analytical services. The contract is for period of around 2 years.
All studies will be executed under the section 9(3) requirements with regulatory submissions to the Central Insecticides Board & Registration Committee (CIBRC) - India’s apex body for approvals. By undertaking this comprehensive mandate, the company joins a select group of CROs in India with the infrastructure and scientific expertise to deliver integrated pre-clinical solutions that meet both national and international regulatory standards.
Vivo Bio Tech (VBTL) is a contract research company engaged in biotechnology and pharma drug discovery activities.
