Following this MoU news, pharmaceutical stock rises 5% from its current low.

According to an exchange filing, Sigachi Industries, a stock in the pharmaceuticals sector, recovered 5% from its intraday low after a wholly owned subsidiary of the company signed a memorandum of understanding (MOU) with Respilon Group on Monday, April 28 to work on drug delivery technologies based on nanofibers. "Sigachi Industries Limited, a prominent participant in the pharmaceutical sector, is happy to announce that it has signed a Memorandum of Understanding (MoU) with Respilon Group s.r.o. to advance nanofiber-based drug delivery technologies through its wholly owned subsidiary, Sigachi MENA FZCO," the company stated in the BSE filing.

In an effort to provide a non-invasive, precise medication delivery system, the company plans to use Respilon's patented nanofiber technology to improve treatment results and the patient experience, per the filing data. "Our goal of providing next-generation pharmaceutical solutions that enhance therapeutic outcomes and improve the patient experience is ideally aligned with our partnership with Respilon. "We are thrilled about the potential that NUENEX® technology presents to transform drug delivery systems around the world," stated Amit Raj Sinha, Sigachi Industries' managing director and CEO.

According to the exchange filing, the strategic partnership also entails creating commercialization plans for pertinent APIs and formulations by utilizing nanofiber encapsulation technology.