Dr Reddy’s subsidiary inks pact with US-based Olema Pharmaceuticals

Dr Reddy’s Laboratories on Thursday said its subsidiary has inked a pact with US-based Olema Pharmaceuticals Inc. to research, develop and commercialize novel small molecule inhibitors of an undisclosed oncology target.

Olema and Aurigene Discovery Technologies, a wholly-owned unit of Dr Reddy’s Laboratories, have inked an exclusive global license agreement in this regard.

Under the terms of the agreement, Olema will make an upfront licensing payment of USD 8 million for the rights to a pre-existing Aurigene program.

Aurigene will also be eligible for up to USD 60 million in potential clinical development and regulatory milestones and up to USD 370 million in potential commercial milestones, as well as royalties ranging from the mid-single digits to the low double digits, based on annual net sales.

During the research term, Olema will contribute funding to Aurigene to facilitate ongoing discovery efforts, Dr Reddy’s said in a regulatory filing.

Olema and Aurigene will jointly direct further preclinical work and, if successful, Olema will lead clinical development along with regulatory and commercial activities, it added.

“This agreement with Olema further validates Aurigene’s proven expertise in discovery and preclinical development of effective cancer therapeutics,” Aurigene CEO Murali Ramachandra said.

The company looks forward to the continued development of an Aurigene programme, which will now be ably supported by the extensive development capability of Olema, he added.

“We believe this is a strong strategic opportunity to enhance our growing discovery portfolio,” said Sean P Bohen, President and Chief Executive Officer of Olema Oncology.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard,

Digital Editor

Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button