New Delhi, July 14 Jubilant Biosys Ltd, a subsidiary of Jubilant Organosys Ltd, announced a drug discovery partnership with US-based biotech company Amgen Inc.
The two companies will collaborate to develop a portfolio of novel drugs in new target areas of interest across multiple therapeutic areas. Under the agreement, Jubilant will develop early pre-clinical candidates emanating from Amgen’s early discovery efforts for an initial term of three years. Amgen will have responsibility for the subsequent pre-clinical and clinical development and commercialisation.
Amgen will own the drugs developed under the collaboration with worldwide commercialisation rights. Jubilant Biosys will partner in early-preclinical development effort from its state of the art Jubilant Research Centre in Bangalore.
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. Though the company did not give any details on the exact commercial terms with Amgen, it said the total financial milestone value is subject to successful development and commercialisation of the portfolio of novel drugs.
Commenting on the development, Mr Shyam S. Bhartia, Chairman and Managing Director, Jubilant Organosys, said, “We are very pleased to expand our relationship with Amgen. 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. This partnership continues to demonstrate Jubilant’s strategy to be India’s largest innovation driven integrated pharmaceutical service provider supporting the global pharmaceutical industry.”Related Stories:
Jubilant bags $92-m worth contract research deals
Jubilant Energy finds oil & gas in Cauvery
Jubilant to grow retail presence in southern cities
Jubilant Organosys posts 40% growth in Q3 net
Jubilant arm teams up with Forest Lab