Jubilant Biosys inks drug discovery pact with Mnemosyne Pharma

NEW DELHI: Jubilant Biosys, an arm of Jubilant Life Sciences Ltd, today said it has entered into drug discovery collaboration with Mnemosyne Pharmaceutical Inc to develop molecules for treating mental disorders resulting from diseases of the nervous system.

"The company has entered into drug discovery collaboration with Mnemosyne Pharmaceutical Inc...that will seek to identify preclinical candidates in the area of neuropsychiatric diseases," Jubilant Biosys Ltd said.

The alliance shall initially span a period of two years and may be extended on mutual consent across other therapeutic programs as well. The collaboration will focus on developing a candidate that Mnemosyne has identified, it said.

"Under the terms of the agreement, Mnemosyne will exclusively own all IP (intellectual property) generated and shall be responsible for clinical development and commercialisation," it added.

The company, however, did not provide the financial details of the agreement.

Commenting on the pact Jubilant CEO & President, Global Drug Discovery & Development Sri Mosur said: "This creative alliance further demonstrates Jubilant's commitment to global R&D in enabling early discovery research towards optimal commercialisation".

Mnemosyne CEO Kollol Pal said: "We are looking forward to a successful collaboration with Jubilant that will produce first-in-class drugs that address the unmet medical need in neuropsychiatric diseases such as schizophrenia and Alzheimer's disease."