Financial Daily from THE HINDU group of publications
Wednesday, Dec 01, 2004
Financial Daily from THE HINDU group of publications Wednesday, Dec 01, 2004 |
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Alliances & Joint Ventures Matrix, aRigen tie up for drug discovery research Our Bureau
Hyderabad , Nov. 30 ARIGEN Inc, the Japanese pharmaceutical research major, has announced an alliance for drug discovery research with Matrix Laboratories Ltd. The Matrix Chairman and CEO, Mr N. Prasad, and the aRigen President and Chairman, Mr G. Tokoro, signed the agreement in Tokyo on Tuesday. In a press release here, Matrix Labs said the agreement outlines a multi-year joint drug development programme under which Matrix would prepare compounds for screening to determine the lead compound and supply samples to aRigen. Consequently, aRigen would arrange to conduct the pre-clinical and clinical studies. Matrix would also supply the active pharmaceutical ingredient (API) for the molecule/s under development. Commenting on the development, Mr Prasad said: "This is a collaboration between the pharmaceutical and scientific community of India and Japan. I hope this will lead to further co-operation between the two countries in this area." Mr Tokoro said: "We visited Matrix Laboratories in Hyderabad over the last few months and were very impressed by their world class facilities and outstanding scientific talent. We expect that this joint development programme will enable us to reduce drug development costs and give us time-to-market advantage." Headquartered in Tokyo, aRigen Inc was founded in 2001 by a team of scientists with funding support of Japanese venture capitalists, institutional investors and foreign funds.
More Stories on : Alliances & Joint Ventures | Pharmaceuticals | Research & Development
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