Tata Group's Advinus Pharma signs an agreement with Takeda Pharma
The two companies have entered into a joint drug discovery deal indicating the rising interest of MNCs in the Indian drug research.
Mumbai, October 4, 2012: Adnivus Pharma, a company promoted by Tata Group has tied up with Japan-based Takeda Pharma inking a joint drug discovery deal. This agreement indicated the rising interest of multinational companies in the Indian drug research.
"We are very excited to partner with Advinus as they have innovative approaches to efficiently generate INDs (investigational new drug) that will further strengthen Takeda's drug discovery capabilities, while also enhancing our pipeline," said Dr Paul Chapman, General Manager - Pharmaceutical research division, Takeda in a statement.
As per the agreement, Advinus will receive a guaranteed funding of US$ 36 million from Takeda which will be used to explore the novel molecules in the areas of inflammatory disease, central nervous system and metabolic diseases. Initially, the research will be spread over a period of three years but it can be expanded further.
"This deal is an indication that global pharma majors do not see India as a mere contract research destination. The technological capabilities differentiate us from China," said Rashmi Barbhaiya, MD, Advinus Pharma.
The Indian firm will also receive US$ 9 million in milestone payment leading to candidate selection, apart from milestone payments of up to US$ 45 million per product, in addition to the royalties on product sales worldwide.