Biosys ties up with Amgen for development of new drugs

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Mumbai, July 14 (UNI) Bangalore-based Jubilant Biosys has entered into a early stage discovery and development of new drug partnership with the US-based biotech company -- Amgen Inc.

Under the agreement, Jubilant Biosys will concentrate on early preclinical candidates emanating from Amgen's early discovery efforts for an initial term of three years, while Amgen will handle subsequent pre-clinical and clinical development and commercialization of the drugs. Amgen will also retain and own the drugs developed under the collaboration with its worldwide commercialization rights.

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 with the total amount subjected to successful development and commercialization of the newly developed range of novel drugs.

''This collaboration leverages the innovation capabilities of Jubilant Biosys in pharmaceutical discovery and preclinical development, to deliver cost-effective new products that will help patients around the world,'' Hari S Bhartia, Co-Chairman and Managing Director Jubilant Organosys, parent company of Jubilant Biosys, said.

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