The CRO Service Agreement provides for a minimum revenue assurance between Rs. 7.00 crores - Rs.9.00 crores for the financial year 2019-2020 and Rs. 20.00 crores for financial year 2020-2021.

Speaking on the development, Mr. Dopesh Raja Mulakala, Managing Director, Vanta Bioscience Limited, said, "This deal broadens our horizon. With a steady and assured revenue, we are further encouraged to shorten the timeframe for dominating the category. We now have state-of-the-art facility and world-class expertise to offer services as per global standards. We are confident that we will deliver impeccable results and add continuously value to their business. It is a matter of pride to be associated with an established company like Emcure Pharmaceuticals."

The official spokesperson of Emcure Pharmaceuticals Ltd. added, "Service-efficiency, confidentiality and belief in team in-charge of execution are important factors for selecting the service providers for carrying out our bio-analytical and bio-equivalence studies and we believe that Vayam has the capabilities."

Shares of Vanta Bioscience Ltd was last trading in BSE at Rs.185 as compared to the previous close of Rs. 180.9. The total number of shares traded during the day was 3000 in over 2 trades.

Vanta Bioscience Limited has announced that its step-down subsidiary, Vayam Research Solutions Limited, has entered into a non-exclusive CRO Service Agreement with Emcure Pharmaceuticals Limited, Pune, for providing services of Bio-Analytical and Bio-Equivalence services to the company for a period of three years from 2019 to 2022.