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news.Jubilant Organosys, a drug discovery and development company, has reported, that its subsidiary, Jubilant Biosys, has signed a research collaboration agreement with AstraZeneca. Pursuant to the terms of the agreement, Jubilant will focus on delivering novel drug candidates into the AstraZeneca's preclinical pipeline.
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Under the shared risk-reward collaboration, which will initially focus on the neuroscience area, Jubilant aims to deliver a steady stream of discovery programs to AstraZeneca.
AstraZeneca will own the compounds developed under the collaboration with worldwide development and commercialization rights. Jubilant will be eligible to receive research funding spanning an initial five-year period. In addition, AstraZeneca will also pay Jubilant success-based development milestones, as well as royalties based on successful global commercialization of any of the compounds.
Hari Bhartia, co-chairman and managing director of Jubilant Organosys, said: “We are very pleased to partner with AstraZeneca, this collaboration will leverage the innovative capabilities of AstraZeneca and Jubilant Biosys in providing a robust global drug discovery model. Through this partnership, Jubilant is confident of contributing to AstraZeneca’s preclinical portfolio and anticipates significant rewards from successful downstream milestones.
“This partnership furthers Jubilant’s strategy to be India’s largest provider of innovative and integrated pharmaceutical solutions, enabling the global pharmaceutical industry’s quest to discover affordable innovative medicines.”