DRL in agreement with ClinTec
The financial terms of the agreement were not disclosed.
By PTI |
MUMBAI: Leading Pharmaceutical company, Dr Reddy's Laboratories Ltd on Wednesday said it has entered into an agreement with ClinTec International for joint development of an anti-cancer compound, DRF 1042.
The financial terms of the agreement were not disclosed.
The compound, DRF 1042 belongs to Topoisomerase inhibitors class and is used in potential treatment of various types of cancer, Dr Reddy's Laboratories informed the Bombay Stock Exchange.
"We are excited about the R&D collaboration with ClinTec International as it will bring a very exciting cancer drug to the market and is a step forward in our efforts to transform ourselves into a discovery led global pharmaceutical company," Dr Reddy's Laboratories Chief Executive Officer GV Prasad said.
Under the terms of the agreement, DRL and ClinTec International would co-develop DRF 1042 and would undertake Phase II and Phase III clinical trials, with the aim of securing USFDA and EMEA approvals.
The company has completed phase I clinical trials for DRF 1042 in India, it added.
Dr Reddy's would retain the commercialisation rights for the US and rest of the world markets (excluding ClinTec International territories) and ClinTec International would be granted the commercialisation rights for major European markets.
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