Bangalore, Sep 11 - India's biotech major Biocon Friday entered into a strategic tie-up with the US-based Amylin Pharmaceuticals to jointly produce a peptide hybrid molecule for treating diabetes.

As part of the tie-up, the two firms will collaborate to develop the therapeutic compound and share the development costs, Biocon said in a statement here.

The research will centre on Amylin's 'phybrid' technology that combines two peptide hormones into a single molecule entity.

Biocon will utilise its expertise in recombinant microbial expression to produce the compound and leverage its experience in pre-clinical and clinical development of diabetes products.

According to Biocon chairman and managing director Kiran Mazumdar-Shaw, the agreement leverages the synergistic capabilities of the two companies.