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Advinus Therapeutics (P) Ltd. And Ortho-McNeil-Janssen Pharmaceuticals, Inc. Establish Drug Discovery And Development Collaboration; Advinus To Receive Milestone Payments Up To US $247 Million



9/30/2008 6:21:28 AM

BANGALORE, India--(BUSINESS WIRE)--Advinus Therapeutics (P) Ltd., 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 drug candidates for various disease targets. Advinus will be responsible for drug discovery and early clinical development (until the completion of Phase 2a studies), while OMPJI will have an option to advance the drug candidates into late stage clinical trials and will be responsible for worldwide commercialization of the molecules. As per the agreement, Advinus will receive an upfront payment and could receive milestone payments of up to 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.

Commenting on the agreement, Dr. Kasim Mookhtiar, CSO and Head of Drug Discovery of Advinus 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.”

About Advinus

Advinus Therapeutics, a Tata enterprise, is a research-based pharmaceutical company founded by eminent global pharmaceutical executives. The company is the first of its kind in India to offer end-to-end development services to the global pharmaceutical, agrochemical and biotechnology industries while creating long-term value through internal and collaborative drug discovery programs. The primary focus of the company’s discovery efforts are in metabolic diseases and inflammatory diseases. Advinus is also pursuing the discovery of new drug treatments for neglected (for developing world) diseases. Advinus’ drug development operations support and supplement client resources at increased levels of efficiency by providing services in all areas of pre- and early clinical and pharmaceutical development. For company information, visit Advinus at www.advinus.com.

Contact:

Advinus Mr. Rajiv Malik, +91 80 2839 2378 Sr. Vice President, Operations rajiv.malik@advinus.com www.advinus.com

Source: Advinus Therapeutics (P) Ltd.


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