Alkem Foundation, the corporate social responsibility (CSR) arm of Alkem Laboratories (NSE:ALKEM, BOM:539523), has partnered with the Indian Institute of Technology Bombay to set up a research center in India, according to a Monday filing to the Indian stock exchanges.

The proposed center, named "Alkem Centre for Advanced Research and Development of Applied Immuno-Therapeutics and Regenerative Medicines," will be set up on the IIT Bombay campus.

Alkem Foundation will contribute 20-25% of its cumulative CSR obligations over seven years to the new center, the company said.

The company's shares were up nearly 2% in recent trade.