Mumbai, Sept 30 (UNI) Advinus Therapeutics Private Limited, a Tata Enterprise, has announced a drug discovery and development collaboration with Ortho-McNeil-Janssen Pharmaceuticals Inc (OMJPI).
Under the agreement, Advinus and OMJPI have agreed to develop drugs for various diseases, which would be tested on targeted candidates. Advinus will be responsible for drug discovery and early clinical development (until the completion of phase 2a studies), while OMJPI will have an option to advance the drug's clinical trials in later stage and be responsible for worldwide commercialization of the molecules.
As per the agreement, Advinus will receive an upfront payment and could receive payments of US$ 247 million upon successful development of two targets. Advinus is also eligible for royalties on the sales of any drug products, resulting from the collaboration.
While talking to mediapersons, CSO and Head of Drug Discovery of Advinus Dr Kasim Mookhtiar said, ''The collaboration provides a great opportunity to synergize the talent of Indian drug discovery and development scientists at Advinus with the scientific, clinical development and commercial strengths of a company like OMJPI for bringing new medicines to market with speed, efficiency and cost-effectiveness. It is a further validation of the growing capabilities of Indian pharmaceutical researchers and Advinus' commitment to bring new medicines to market.'' Advinus Therapeutics, a Tata enterprise, is a research-based pharmaceutical company founded by eminent global pharmaceutical executives.
UNI JM LY NP1817