Business Daily from THE HINDU group of publications
Thursday, Mar 13, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Mar 13, 2008 ePaper | Mobile/PDA Version |
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Corporate
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Research & Development Suven, Eli Lilly in pact for drug discovery Our Bureau Hyderabad, March 12 Suven Life Sciences Ltd has signed a second agreement with Eli Lilly and Company, a US-based global pharmaceutical company, to collaborate on the pre-clinical research of molecules in the therapeutic area of Central Nervous System disorders (CNS). As per the collaboration agreement, Suven would be responsible for discovery activities related to the identification and selection of clinical candidates in the area of CNS in close association with Lilly. The Hyderabad-based Suven, which had earlier entered into a similar pact with Eli Lilly, would receive research funding and potential discovery and development milestone payments in the range of $19 million to $23 million per candidate, and potential royalties on net sales of any products that may be successfully commercialised from the collaboration. “This collaboration leverages Suven’s small molecule drug discovery expertise with Lilly’s expertise and leadership position in CNS, with the goal of creating innovative products for unmet medical needs,” Mr Venkat Jasti, CEO, Suven Life Sciences, said in a release. More Stories on : Research & Development | Alliances & Joint Ventures | Pharmaceuticals
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