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Pharma major Dr Reddy’s Laboratories Ltd has entered into a development and commercialisation partnership with Portland-based Galena Biopharma for breast and gastric cancer drug, NeuVax (nelipepimut-S) in India.
According to a release issued here on Wednesday, the Hyderabad-based Dr Reddy’s would get the commercial rights for NeuVax and would lead the development of the drug.
Galena would receive development and sales milestones, as well as double-digit royalties on net sales.
Commenting on the partnership, G.V. Prasad, Chairman and CEO, Dr. Reddy's said: "We are delighted with our partnership with Galena Biopharma and we believe NeuVax can be a good potential treatment option to prevent the recurrence of breast and gastric cancer."
"This partnership with Dr Reddy's is consistent with our strategy to expand the clinical utility of NeuVax in unmet medical needs while simultaneously increasing the commercial footprint of this innovative cancer immunotherapy," said Mark J. Ahn, Ph.D., President and CEO of Galena Biopharma.
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