Nicholas Piramal signs agreements with UK firm
In a filing on the Bombay Stock Exchange the company said the first agreement was related to Morvus platform technology .
By PTI |
MUMBAI: Pharmaceutical firm Nicholas Piramal India Ltd has signed two license agreements with UK-based drug discovery company Morvus Technology Ltd for developing and commercialising technologies related to diabetes, rheumatoid arthritis and oncology.
In a filing on the Bombay Stock Exchange the company said the first agreement was related to Morvus platform technology that allowed identification of novel genes and proteins associated with programmed cell death, thus opening the way for therapeutic programmes to attenuate their effects.
The company said under this agreement it would be responsible for developing the technology to generate new drugs in the areas of diabetes and rheumatoid arthritis.
The second agreement entailed a combination therapy for cancer, which utilises specific Cyclin Dependent Kinase inhibitor to enhance the effectiveness of known anti-cancer drugs.
The UK firm would be entitled to initial fee payments for both contracts and would also be entitled to milestone and 2 per cent royalty payments, Nicholas Piramal said.
"We are pleased to partner Morvus Technology in drug discovery platforms, which reinforce our discovery research efforts. Morvus is doing excellent work from its laboratories in the UK, a region where we continue to find excellent opportunities for partnering in high-end work," Company's Chairman Ajay Piramal said.
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