Information technology major Tata Consultancy Services, as part of its life sciences initiative, has tied up with the Israel's biotech company BioStrx to offer structured-based drug discovery services to pharmaceutical and biotech firms across the globe.
M Vidyasagar, executive vice-president of TCS, said that as per the tie-up the company would provide optimised leads for targeted proteins.
There are three stages involved in this process which, includes protein crystallisation, structure determination and material synthesis. The first two will be carried out by BioStrx and TCS will give it the final touch.
The later stages of pre-clinical and clinical trials for the desired product will be undertaken by pharmaceutical companies.
"The machines being used by BioStrx have been developed by a scientist we hold in high esteem. When we discussed our interests, we immediately sensed a profitable alliance that can take us to the global market together," Vidyasagar added.
According to agency reports, this memorandum of understanding was signed on the sidelines of a two-day conference on information technology and biotechnology in Mumbai sponsored by the Confederation of Indian Industry. Leading Indian companies are participating in the conference.
TCS recorded a 14 per cent sequential growth in revenues for the second quarter ended September 30 2004.
The revenue contribution of GE Group, the biggest customer of TCS, has come down to 15.9 per cent of revenues in the latest quarter from 17.1 per cent in the first quarter of 2004-05. The company added 52 additional customers during this quarter.