ET Bureau Jan 06, 2020, 07.56 PM IST

BENGALURU: Biocon has elevated company longtimer M B Chinappa as the chief financial officer of its subsidiary Biocon Biologics. Chinappa was the President Finance at Syngene International, the contract research unit of Biocon.

Chinappa, who is going to play an important role in Biocon Biologics’ journey towards becoming a global leader in biologics, has been tasked to drive financial performance of the company and improve profitability and manage anticipated risks in the in the journey of achieving the $1 billion revenue target in FY22, said the company in a press release. Chinappa, who is a Chartered Accountant, has 28 years of experience in Corporate Finance, Planning, Treasury, Taxation, Risk Management and Assurance.

He was part of many strategic initiatives at the Biocon group including raising private equity funds to finance Biocon’s foray into biopharmaceuticals, Biocon’s listing on the capital markets, obtaining Special Economic Zone status for Biocon Park. He had moved to Syngene as the CFO in 2008.

“Chinappa has proven leadership skills and has played a key role in the value creation story of Biocon and Syngene in the past 20 years. I am sure with his expertise we will build immense value for Biocon Biologics as we progress towards transforming millions of patient lives across the globe,” Christiane Hamacher, chief executive officer, Biocon Biologics, was quoted saying.