Godavari Biorefineries has issued a clarification to BSE Limited regarding recent movements in its share price, confirming compliance with regulatory disclosure requirements and stating that recent price changes are market-driven.

Regulatory Compliance Confirmation

The company submitted its response on December 26, 2025, addressing BSE's inquiry about volume movement in the stock. Godavari Biorefineries confirmed that it has disclosed all material information to stock exchanges that could impact company operations or performance.

Material Information Disclosure

The company emphasized its adherence to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirming that all necessary disclosures have been made within stipulated timeframes. Management stated there is no undisclosed or price-sensitive information pending disclosure to stock exchanges.

Share Price Movement Explanation

Godavari Biorefineries clarified that management is not aware of specific reasons for the significant increase in share price. The company attributed the movement to market-driven factors and emphasized that management has no connection with the share price increase.

Key points regarding the price movement include:

• No pending corporate actions affecting stock price
• Movement attributed to market conditions and various factors
• Management not connected with share price increase
• Increased trading volumes are market-driven

Commitment to Compliance

The company reiterated its commitment to maintaining compliance with listing regulations and applicable laws. Godavari Biorefineries assured stakeholders of its continued adherence to regulatory requirements and transparent disclosure practices.

The clarification was signed by Swarna Gunware, Joint Company Secretary, and submitted to BSE for record maintenance purposes.

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.