Bangalore, January 17, 2008

Biocon Limited and IATRICa, Inc. today announced a strategic partnership to co-develop an exclusive new class of immunoconjugates for targeted immunotherapy of cancers and infectious diseases. The companies will co-develop candidate products based upon IATRICa's technology platform and Biocon's proven expertise in drug development, biologics manufacturing, and clinical research.

IATRICa's technology enables development of a diverse spectrum of immunoconjugates that are capable of activating potent targeted immune responses against various tumors or pathogens. The companies will leverage and integrate their synergistic R&D expertise to formulate and test next-generation antibody-based immunoconjugates that are more effective than current therapeutic antibodies against cancers and infectious disorders. In addition to a co-development and licensing agreement, Biocon has also made an equity investment in IATRICa.

Announcing the partnership, Ms. Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon Limited said, "We are delighted to announce this partnership with IATRICa to co-develop an exciting new class of biological antibody-based immunoconjugates that could potentially transform the treatment of cancer and infectious diseases. This collaboration will dovetail IATRICa's innovative cutting-edge technology and research expertise with Biocon's established expertise in the development, manufacturing, and clinical testing of biologic therapeutics. This symbiotic partnership should accelerate clinical development of innovative bio-hybrid molecules for targeted immunotherapy and thereby reinforce our shared endeavor to provide effective new treatments for major neoplastic and infectious diseases."

About IATRICa Inc.
IATRICa is a privately held biotechnology company engaged in the discovery and development of novel targeted immunoconjugates for prevention or treatment of cancer and infectious disorders. IATRICa is a start-up company formed in 2007 with technology developed at the Johns Hopkins University, Baltimore, Maryland, USA, and has exclusive licenses to the immunoconjugate technology invented by Johns Hopkins scientists and company founders, Dr. Atul Bedi and Dr. Rajani Ravi. The company is headquartered in Baltimore, Maryland, USA.

About Biocon
Established in 1978, Biocon Limited is one of India's premier biotechnology companies. Biocon and its two subsidiary companies, Syngene International Ltd and Clinigene International Ltd form a fully integrated biotechnology enterprise, specializing in biopharmaceuticals, custom research and clinical research. With successful initiatives in clinical development, bio-processing and global marketing, Biocon delivers products and solutions to partners and customers across the globe. Many of these products have USFDA and EMEA acceptance. Biocon launched the world's first recombinant human insulin, INSUGEN^® in November 2004 using Pichia expression and India's first indigenously produced monoclonal antibody BIOMAb-EGFR^™.