Suven Life to raise about $20 million for phase two trial of Alzheimer disease

Suven Life SciencesIn a latest development, Hyderabad-based drug developer Suven Life Sciences has informed that its molecule for Alzheimer's disease will soon enter phase two trials.

According to sources, the phase two trials will cost the company $20 million. The company is presently in the process of raising funds for the trials through a combination of debt, equity and strategic partner.

Last week, the company announced that more than half-a-dozen companies have shown interest in partnering the company for developing 'SUVN 502' molecule.

Ex-Satyam owner Raju charge sheeted by CBI

Ex-Satyam owner Raju charge sheeted by CBIHyderabad, Apr. 7 : The Central Bureau of Investigation (CBI) on Tuesday filed a charge sheet against Satyam founder B Ramalinga Raju and eight others.

The 76-page charge sheet was filed before the special court here under various sections of Indian Penal Code for cheating and forgery.

The company's former managing director, Rama Raju, former chief financial officer, Vadlamani Srinivas, and the two sacked auditors of PriceWaterhouse, S Gopalkrishnan and Talluri Srinivas were also named in the charge sheet.

AP Congress expels 40 rebels

AP Congress expels 40 rebelsHyderabad, Apr 7 : The Andhra Pradesh Congress Committee (APCC) on Tuesday expelled 40 rebels for six years, after they filed their nomination papers as independents for the Andhra Pradesh Assembly elections.

APCC General Secretary Anand Bhaskar said these 40 rebel candidates have been expelled with immediate affect.

In a statement, Andhra Pradesh Congress Committee (APCC) President Dharmapuri Srinivas said the party took a decision to expel them, as they did not pay attention to the several appeals made by the party brass, including Chief Minister Y. S. Rajasekhara Reddy.

IVRCL Infra Wins Order Worth Rs 359.52 Crore

IVRCL Infra Wins Order Worth Rs 359.52 CroreHyderabad based IVRCL Infrastructures & Projects has informed the market that it has bagged project orders worth Rs.359.52 crore from different agencies for construction related works.

In a disclosure to the Bombay Stock Exchange, the company has received the first order of Rs 164.64 crore from Kolkata Metropolitan Development Authority. Under the project, the company will construct Vivekananda Road flyover on turnkey contract basis in Kolkata in a period of 18 months.

CBI arrests three more Satyam employees

Hyderabad, SatyamHyderabad, Apr 6 : The Central Bureau of Investigation (CBI) arrested three more Satyam Computer Services employees on Monday in connection with the multi-billion fraud committed by the IT major.

“We arrested three employees last night who designed the mechanism for the fraud. They were involved in preparing fake monthly bank statements and other documents,” CBI Deputy Inspector General V. V. Lakshmi Narayana, said.

The arrested Satyam employees are: Vice-President (Finance) G. Ramakrishna, and two others working in the finance department- D. Venkatpati Raju and Srisailam.

Chiranjeevi proposes ''Fourth Front'' after Lok Sabha elections

Chiranjeevi proposes ''Fourth Front'' after Lok Sabha electionsHyderabad, Apr. 5 : Even before registering its maiden political success in General Elections, actor-turned-politician Chiranjeevi hopes that his party may have a role in giving birth to a ''Fourth Front''.

"My feeling is that why should a fourth front not be formed at the Centre. Those parties which are opposed to the current formations can join hands with us to from the fourth front," Praja Rajyam Party (PRP) Chief Chiranjeevi said on Sunday.