GVK will be responsible for identifying drug candidates, which will be transferred to Wyeth to advance these compounds towards clinical studies. Under the agreement, GVK will receive initial payments as well as success-based milestone payments based on the research progress.
"GVK Bio has had a successful partnership with Wyeth on various chemistry research activities dating to 2006. This research agreement expands our work together and builds on GVK's core strengths," G V Sanjay Reddy, managing director, of GVK Bio, stated in a press release on Monday.