Suven Establishes Second CNS Drug Discovery Collaboration with Lilly
HYDERABAD, India March 12, 2008 - Suven Life Sciences Limited announced today it has signed a second agreement with Eli Lilly and Company, a U.S. based global pharmaceutical company, to collaborate on the pre-clinical research of molecules in the therapeutic area of central nervous system disorders (CNS).
As per the collaboration agreement, Suven will be responsible for discovery activities related to the identification and selection of clinical candidates in the area of CNS, in close association with Lilly.
Under the terms of the collaboration agreement, Suven will receive research funding and as well as potential discovery and development milestone payments in the range of $19 million to $23 million per candidate, and potential royalties on net sales of any products that may be successfully commercialized from the collaboration.
“We are very pleased and excited that Lilly has continued to collaborate with us in the CNS arena, thus showing the confidence in Suven’s drug discovery capabilities,” says Dr Ramakrishna Nirogi, Vice President, Drug Discovery of Suven Life Sciences.
“We believe our collaborations with Lilly validate Suven’s leadership position in CNS drug discovery” says Venkat Jasti, CEO of Suven Life Sciences. “This Collaboration leverages Suven’s small molecule drug discovery expertise with Lilly’s expertise and leadership position in CNS, with the goal of creating innovative products for unmet medical needs.”
Dr. William W. Chin, M.D., vice president of discovery research and clinical investigation for Lilly said "We are excited to continue our pioneering collaboration with Suven in neuroscience drug discovery. We have been impressed with Suven's growth in capabilities and commitment to our important effort. Together we will partner to accelerate the delivery of innovative medicines in this complex field."
Suven Life Sciences
Suven Life Sciences is a biopharmaceutical company focused on the drug discovery, development of orally active drugs to address significant unmet medical needs with a primary focus on the treatment of debilitating CNS disorders such as Alzheimer’s disease, schizophrenia, depression, vascular dementia, mild cognitive impairment, Parkinson’s disease, memory impairments with aging, sleep disorders, feeding disorders and obesity. In addition, leading global pharma access our drug discovery capabilities and expertise through collaborations to design, create, optimize and evaluate drug candidates across a wide range of therapeutic areas. For more info please log onto www.suven.com
6/F, Serene Chambers, Rd#7, Banjara Hills Hyderabad 500034, India
Tel: 9140 2354 1142 Fax: 9140 2354 1152 Email: email@example.com
Posted: March 2008