The company made this announcement before trading hours today, 23 November 2011.

Meanwhile, the BSE Sensex was down 216.34 points, or 1.35% to 15,849.08.

On BSE, 1.13 lakh shares were traded in the counter as against average daily volume of 1.12 lakh shares in the past one quarter.

The stock hit a high of Rs 57.80 and a low of Rs 51.50 so far during the day. The stock had hit a 52-week high of Rs 62.50 on 16 November 2011. The stock had hit a 52-week low of Rs 29 on 23 September 2011.

The small-cap stock had outperformed the market over the past one month till 22 November 2011, rising 22.69% compared with the Sensex's 4.29% fall. The scrip had also outperformed the market in past one quarter, surging 58.7% as against 1.69% decline in the Sensex.

The company has an equity capital of Rs 65.77 crore. Face value per share is Rs 10.

Transgene Biotek said the sale of technology for Erythropoietin is expected to be completed during a period of approximately 5 to 6 months. Since the market of this drug, Erythropoietin, is getting to be very competitive and crowded in the recent years and in order to primarily focus on its highly exciting and novel drug pipeline advancing rapidly, the management of Transgene has taken a decision to monetize some of the dormant technologies (products) through either out-licencing or strategic partnerships within and outside India, the company said in a statement.

Transgene Biotek said in the recent years the company had out-licensed two of its technologies -- a recombinant Hepatitis B Vaccine to one of the largest vaccine producers in the world, and more recently Orlistat to one of the biggest Indian pharma companies with significant presence on the global arena.

The stabilizing influence from the enhanced production and sale of APIs across the global markets and potential returns from monetization of some of its dormant bio-generic products combined with potentially significant revenues from the out-licensing of a series of novel bio-technology products provide a sound platform to generate substantial returns to the stakeholders, the company said in a statement.

Transgene Biotek's net profit galloped 23475% to Rs 9.43 crore on 1934.2% growth in total income to Rs 15.46 crore in Q2 September 2011 over Q2 September 2010.

Transgene Biotek is engaged in the research and development and manufacture of various medical reagents, both chemical and immuno-diagnostic reagents for the qualitative and quantitative estimation of bio-chemical parameters and diagnosis of diseases respectively.