Jubilant inks drug discovery pact with US firm
Jubilant Biosys Ltd enters into a drug discovery partnership with Amgen Inc to develop early pre-clinical candidates emanating from Amgen's early discovery, reports HT Correspondent.business Updated: Jul 14, 2008 22:38 IST
Jubilant Biosys Ltd., a subsidiary of Jubilant Organosys Ltd., on Monday said it has entered into a drug discovery partnership with US-based Amgen Inc, to develop a portfolio of novel drugs in new target areas of interest across multiple therapeutic fields.
Under the agreement, Jubilant will develop early pre-clinical candidates emanating from Amgen's early discovery efforts for an initial term of three years, a company statement said.
Amgen, a leading biotech company, will have the responsibility for the subsequent pre-clinical and clinical development and commercialisation. Amgen will retain and own the drugs developed under the collaboration with worldwide commercialisation rights, the statement said.
Jubilant Biosys will partner in early-preclinical development effort from its state of the art Jubilant Research Centre– Bangalore, while Amgen will pursue later stage pre-clinical and clinical development and commercialisation of the drugs in global markets, it said.
The financial terms include a combination of research funding and success-based milestones paid to Jubilant during pre-clinical and clinical development for multiple projects undertaken by the collaboration. The total financial milestone value is subject to successful development and commercialisation of the portfolio of novel drugs.
Commenting on the development Shyam S Bhartia, chairman and managing director and Hari S Bhartia, co-chairman and managing director of Jubilant Organosys said: “This collaboration leverages the innovation capabilities of Jubilant Biosys in pharmaceutical discovery and preclinical development, combining these strengths with Amgen, the world’s largest research driven biotech company, to deliver cost-effective new products that will help patients around the world."
Jubilant Organosys Ltd. is an integrated pharmaceutical industry player, one of the largest custom research and manufacturing services (CRAMS) and drug discovery and development services companies out of India.
It has a presence across products and services such as proprietary products, exclusive synthesis, active pharmaceutical ingredients, contract manufacturing of sterile injectables (liquids and lyophilized) products, non-steriles (ointments, creams and liquids) and radio-pharmaceuticals, drug discovery services, clinical research services, generic dosage forms and health care.