Perlecan Pharma

Perlecan Pharma was an Indian drug discovery and development company established in 2005 as a joint venture between Dr. Reddy's Laboratories, ICICI Venture, and Citigroup Venture Capital International. It was the first venture of its kind in India, designed as a standalone entity to de-risk the capital-intensive process of New Chemical Entity (NCE) development for its parent company. The company's pipeline primarily focused on metabolic and cardiovascular diseases, with lead candidates targeting PPAR receptors. In 2008, Dr. Reddy's Laboratories bought out the stakes of its venture capital partners to bring the R&D programs back in-house. The company is best known for advancing the diabetes drug balaglitazone into late-stage clinical trials.