Morvus Technology Ltd, the Wiltshire, UK-based drug Discovery Company, and Nicholas Piramal India Ltd have announced signing of two license agreements. Under these agreements, NPIL gets the rights to develop and commercialise two of Morvus' technologies.
The first agreement relates to Morvus' platform technology that allows the identification of novel genes and proteins associated with programmed cell death, thus opening the way for therapeutic programmes to attenuate their effects. NPIL will be responsible for developing the technology to generate new drugs in the areas of Diabetes and Rheumatoid Arthritis (RA).
The second agreement encompasses a combination therapy for cancer, which utilises a specific Cyclin Dependent Kinase inhibitor to enhance the effectiveness of known anti-cancer drugs.
Morvus will be entitled to initial fee payments for both contracts and will also be entitled to milestone and 2 per cent royalty payments, as potential products progress to the market.
According to Ajay Piramal, Chairman, Nicholas Piramal India the partnership with Morvus Technology in drug discovery platforms, reinforce the company's discovery research efforts. "Morvus is doing excellent work from its laboratories in the UK, a region where we continue to find excellent opportunities for partnering in high-end work," he said.
"NPIL has the proven capability to develop drugs in these disease areas thus providing an excellent opportunity for our early-stage technologies to progress towards the market. NPIL are currently reviewing other aspects of our portfolio and we look forward to further interactions in the near future," stated Dr Philip Burke, Chief Executive of Morvus.
Since early 2005, Nicholas Piramal has made significant investments in the UK across its businesses. The company acquired the Inhalation Anaesthetics business of Rhodia Organique Fine Limited, UK, in January 2005 followed by acquisition of the Custom Manufacturing business of Avecia Group, UK in December 2005 and acquisition of the Morpeth-based Pharmaceutical manufacturing Unit of Pfizer, UK in June, 2006. With these investments, NPIL now has four manufacturing facilities in the UK, which employ nearly 650 people. The Company has recently been short-listed for the " UK Trade and Investment India Business Awards 2006".
Morvus Technology Ltd is a drug-discovery company operating in the pharmaceutical/biotech sector. It is based on the Porton Down Science Park , near Salisbury and is focused on developing commercially attractive therapies for cancer and neurological disorders where there is a clear, unmet, medical need. Its business model is to license its programmes at a pre-clinical stage in return for milestone and royalty payments.