Suven Life Sciences Ltd announced that their drug discovery collaboration in central nervous system (CNS) disorder with Eli Lilly and Company yielded a positive outcome with lead declaration leading to a milestone payment to Suven. The milestone was achieved with the identification and selection of a first lead compound to be advanced into Lead Optimization Phase of preclinical development.
In 2008, Suven entered into drug discovery collaboration with Eli Lilly and Company, USA to jointly discover and develop candidates for the treatment of CNS disorders.
Under the terms of the agreement Lilly will undertake the clinical development of the selected candidates and commercialization globally. Lilly will have the full ownership of the candidates developed under this collaboration while Suven receives ongoing research payments and preclinical milestones. Furthermore, the contract provides substantial long-term upside for Suven through potential payments for successful milestones achieved during clinical development and royalties on worldwide sales if new drugs are commercialized.