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Expand portfolio and Extend collaboration for 5 years
Noida, (UP) India, November 19, 2009
Jubilant Organosys Ltd.,through its subsidiary Jubilant Biosys Ltd based in Bangalore announced today that its 4 year old research collaboration with Eli Lilly & Company, has successfully delivered multiple discovery milestones and preclinical candidates, resulting in a five-year extension and an expanded portfolio collaboration.
Jubilant and Lilly had entered into an initial discovery research collaboration in late 2005. Lilly will continue to own any compounds developed under the collaboration and will be responsible for worldwide commercialization.
Lilly and Jubilant had also established a joint venture, Vanthys Pharmaceuticals, for early stage drug development in 2008.
Under the terms of the new 5 year agreement Jubilant will receive research funding and success-based discovery and development milestones.
Expressing their delight at the extension of the partnership, Shyam S Bhartia, Chairman & Managing Director and Hari S Bhartia, Co Chairman & Managing Director, Jubilant Organosys said," "We are pleased at the continued success of the collaboration and its ability to deliver the desired impact on Lilly's discovery portfolio efforts. We look forward to strengthening this partnership for better outcomes in pursuit of our endeavour to accelerate global drug discovery and development practice."
: "The extension with Lilly is a testimony of collaborative efforts of scientists at Lilly and Jubilant and demonstrates the value of this pioneering effort in networked R&D and its true impact on global pharmaceutical industry.We also appreciate Lilly's guidance and support to the partnership and Jubilant's aspiration to become India's most innovative pharmaceutical research and development company, accelerating drug development and enabling affordable patient care worldwide." added Sri Mosur, CEO & President of Global Drug Discovery and Development at Jubilant..
"Our collaboration with Jubilant has resulted in the identification of promising pre-clinical candidates in important therapeutic areas," said Dr William Chin, Senior Vice President for Discovery and Clinical research for Lilly "We look forward to continuing our joint efforts to discover and develop novel medicines for patients."
About Jubilant Organosys
Jubilant Organosys Ltd., an integrated pharmaceutical industry player, is India 's largest Custom Research and Manufacturing Services company (CRAMS) and a leading Drug Discovery and Development Solution Provider. The company has a presence across the pharmaceutical value chain for providing products and services such as proprietary products, exclusive synthesis, active pharmaceutical ingredients, contract manufacturing of sterile injectables & non-steriles products, radiopharmaceuticals, generic dosage forms, drug discovery services, medicinal chemistry services, clinical research services, and Health Care. The Company also manufactures Industrial and Performance products.www.jubl.com.
About Jubilant Biosys
Jubilant Biosys Ltd. (JBL) a subsidiary of Jubilant Organosys Ltd. provides integrated drug discovery and development solutions to the global pharmaceutical industry. Jubilant Biosys has a state of the art Discovery Centre in Bangalore that houses over 300 scientists specializing in multiple disciplines to include discovery biology, medicinal chemistry, structural biology, pharmacology, toxicology, pharma chem, molecular modeling, crystallography and information technology, supporting discovery efforts.www.jubilantbiosys.com
Contacts:
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Seema Ahuja |
Deepak Malik |
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Vice President |
Ph: +91-120
4361114 |
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Corporate Marketing & Communication |
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Ph: +91-120 4361062 |
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+91 9810631779 |
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Email:
seema_ahuja@jubl.com |
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Disclaimer:
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates for product launch are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. Jubilant Organosys may, from time to time,make additional written and oral forward looking statements, including statements contained in the Company’s filings with the regulatory bodies and its reports to shareholders. The Company assumes no obligation to update forwardlooking statements to reflect actual results, changed assumptions or other factors.
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