Date:01/10/2008 URL: http://www.thehindu.com/2008/10/01/stories/2008100156931700.htm

Business

Advinus ties up with Ortho-McNeil for drug discovery

Special Correspondent

MUMBAI: Advinus Therapeutics (P) Ltd., promoted by the Tatas, on Tuesday announced a drug discovery and development collaboration with Ortho-McNeil-Janssen Pharmaceuticals, Inc. (OMJPI).

Under the agreement, the two companies will develop drug candidates for various disease targets. While Advinus will be responsible for drug discovery and early clinical development (until the completion of Phase 2a studies), OMJPI will have an option to advance the drug candidates into late stage clinical trials and will be responsible for worldwide commercialisation of the molecules.

As per the agreement, Advinus will receive an upfront payment and could receive milestone payments of up to $247 million upon successful development of two targets. It is also eligible for royalties on sales of any drug products.

According to Dr. Kasim Mookhtiar, Chief Scientific Officer (CSO) and Head of Drug Discovery, Advinus, “The collaboration is a further validation of the growing capabilities of Indian pharmaceutical researchers and Advinus’ commitment to bring new medicines to market.”