BANGALORE: The Indian Biotechnology major Biocon, plans to acquire the intellectual property of its research collaborator Nobex Corporation, which has applied for cover under Chapter 11 of the U.S. bankruptcy laws, Biocon informed the Bombay Stock Exchange (BSE). The Bangalore-based biotechnology firm and Nobex have been co-developing the revolutionary tablet-form oral insulin ? IN105 ? for both Type 1 and Type 2 diabetics. The company said it has invested $5.8 million in Nobex ? $1 million as common stock and the rest in convertible loans. ?Based on progress made till date, the company does not anticipate any disruption to its ongoing oral insulin research program, licensed from Nobex. The company is also seeking to acquire the intellectual property assets of Nobex,? according to a statement from Biocon. The company?s CEO, Kiran Mazumdar-Shaw said, ?Biocon is seeking all IP assets of Nobex. We are having exclusive licensing rights, which, as per the agreement, survive any event of bankruptcy. Biocon is in a position to select any options that it chooses.? As for its plans for oral insulin, "Our IN105 programme remains on track; there is no rescheduling," she said. Both the companies announced their tie-up in October 2004 for what could be the world's first oral insulin product. The project had completed pre-clinical or animal trials. Biocon had earlier said it planned to apply for regulatory clearance to begin human trials in India around the middle of 2006 and also file an INDA(investigative new drug application) with the USFDA by then.