Godavari Biorefineries Limited , a leading renewable chemicals and bio-based manufacturing conglomerate, has announced the incorporation of Sathgen Therapeutics LLC, a wholly owned step-down subsidiary based in Princeton, New Jersey, USA. This strategic expansion strengthens the company's clinical-stage biotechnology presence in the United States, with a primary focus on global out-licensing of intellectual property and accelerating drug-development programmes.

Subsidiary Details and Leadership

Strategic Vision and Research Focus

Sathgen Therapeutics originated from an initiative proposed by Dr. Sendurai Mani and supported by Samir Somaiya, Chairman and Managing Director of Godavari Biorefineries. The company has developed a long-term research programme focused on discovering and developing multiple novel molecules, with several candidates showing promising preclinical efficacy, particularly in triple-negative breast cancer (TNBC) and novel compounds that inhibit cancer and cancer stem cells in vitro.

"The establishment of Sathgen Therapeutics LLC represents an exciting new chapter in our journey of translating science into meaningful solutions," said Samir Somaiya. "Fifteen years ago, we asked ourselves a simple but bold question: Why shouldn't India, long known as the pharmacy of the world for its generics, also contribute to original drug discovery."

Scientific Advisory Board and Patents

Sathgen Therapeutics has formed a Scientific Advisory Board (SAB) to guide its clinical-development and translational-research strategy. The SAB includes:

• Dr. Razelle Kurzrock: International authority in precision oncology, immunotherapy, and early-phase clinical trials
• Dr. Massimo Cristofanilli: Leading global expert in metastatic breast cancer and cancer biology

Building on research progress, Sathgen has secured patents in the US, Europe, China, and other key markets, focusing on compounds with strong activity observed in breast and prostate cancer models.

Market Expansion Strategy

"Establishing our US presence gives us a strong platform to engage more closely with partners who can carry our technologies into the next stages of development," said Dr. Padmaja Ganapathy, CEO of Sathgen Therapeutics USA. The subsidiary will focus on building meaningful collaborations that enable efficient out-licensing and advancement of discoveries to reach patients who need them most.

Dr. Sangeeta Srivastava, Executive Director of Godavari Biorefineries and Head of the Drug Discovery Division, emphasized that the formation of the US subsidiary will help accelerate clinical programmes, enable stronger research collaborations, and bring the company closer to delivering innovative therapies for patients globally.

Godavari Biorefineries Limited (GBL), a leading ethanol and bio-based chemicals manufacturer, reported a mixed financial performance for the second quarter of fiscal year 2026. The company saw a significant 34% year-on-year growth in consolidated revenue, reaching ₹434.30 crore. However, this growth was overshadowed by a net loss of ₹41.60 crore for the quarter.

Despite the reported loss, GBL showed signs of recovery with reduced EBITDA losses and improvements in segment-wise profitability. The company's share price reflected investor sentiment, declining 1.97% to ₹256.40 following the announcement.

Key Financial Highlights

• Consolidated revenue: ₹434.30 crore (34% YoY growth)
• Net loss: ₹41.60 crore
• Share price: Declined 1.97% to ₹256.40

Operational Updates

GBL continues to focus on its core business segments while advancing strategic initiatives:

1. Ethanol Production: The company is progressing with its 200 KLPD distillery commissioning, which is expected to diversify its feedstock options and enhance production capacity.

2. Bio-based Chemicals: GBL maintains its position as a key player in this segment, leveraging its integrated biorefinery model.

3. Research and Development: The company reported advancements in its anti-cancer research program, highlighting its commitment to innovation beyond its core business.

Sustainability Initiatives

In line with its commitment to sustainability, GBL recently released its Sustainability Report for FY 2024-25. Key highlights from the report include:

• Emphasis on renewable energy sources, with 84% of total energy sourced from renewables in FY 2024-25.
• Implementation of Zero Liquid Discharge (ZLD) facilities at both Sakarwadi and Sameerwadi plants.
• Focus on circular economy principles, with 99.9% waste recovery achieved at the Sameerwadi facility.
• Continued investment in community development programs, including education support and women's skill development initiatives.

The company's sustainability efforts are aligned with its long-term strategy to create value while minimizing environmental impact.

Management Commentary

While specific management comments on the Q2 results were not provided, the company's recent sustainability report, signed by Manoj Jain, Company Secretary & Compliance Officer, underscores GBL's commitment to transparent reporting and sustainable business practices.

Outlook

Despite the current quarter's net loss, Godavari Biorefineries' revenue growth and ongoing strategic initiatives suggest a focus on long-term value creation. The company's investments in capacity expansion, research and development, and sustainability practices position it to capitalize on the growing demand for bio-based products and renewable energy solutions.

Investors and stakeholders will be watching closely to see how GBL's operational improvements and strategic initiatives translate into financial performance in the coming quarters.