Hyderabad-based Suven Life Sciences Ltd has signed a second agreement with the US-based pharma major Eli Lilly to collaborate on the pre-clinical research of molecules in the therapeutic area of central nervous system disorders (CNS).
As per the agreement, Suven Life will be responsible for discovery activities related to the identification and selection clinical candidates in the area of CNS in close association with Eli Lilly. Under the terms of the agreement, Suven will receive research funding 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 commercialised from the collaboration.
Commenting on the collaboration Dr Ramakrishna Nirogi, vice president, Drug Discovery of Suven Life Sciences, said, "We are very pleased and excited that Lilly has continued to collaborate with us in the CNS arena, thus showing confidence in Suven's drug discovery capabilities."
"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, MD, vice president of discovery research and clinical investigation for Lilly, said that they are excited to continue our pioneering collaboration with Suven Life Sciences in neuroscience drug discovery. It has been impressed with Suven's growth in capabilities and commitment to our important effort. Together they will partner to accelerate the delivery of innovative medicines in this complex field.