Dr Reddy's ties up with ClienTec Intl

New Delhi, Sep 27: Dr Reddy's Laboratories Ltd has tied-up with ClinTec International for joint development DRF 1042, which will be used as a potential treatment of various types of cancer.

The company has completed Phase I clinical trials for DRF 1042 in India and, as per the agreement, it will undertake Phase II and III clinical trials with ClienTec. The agreement aims at securing USFDA and EMEA approvals.

''ClinTec International brings to this partnership their vast experience and in-depth expertise in the anti-cancer clinical development space. Our research and development tie-up with them will bring a very exciting cancer drug to the market and will take us one step forward in becoming a discovery led global pharmaceutical company,'' Dr Reddy's CEO G V Prasad said.

Dr Reddy's will retain the commercialisation rights for the United States and rest of the world markets, excluding ClinTec's territories, whereas ClinTec will be granted the commercialisation rights for most of Europe including major European markets, a company's statement said.

On commercialisation of the product, if one company sells the drug in other's designated territories, royalty will have to be paid.

In case, either party out-licenses the drug product, the proceeds from such an arrangement will be shared by both the parties in a pre-determined ratio, excluding the company's territories outside the US.

Dr Reddy's will also retain the exclusive rights to supply commercial quantities of the drug product.

The financial terms of the agreement were not disclosed.

UNI