Dr Reddy's, ClinTec in cancer drug R&D pact

Dr Reddy's Laboratories Ltd and ClinTec International entered into an agreement on Wednesday for the joint development of an anti-cancer compound, DRF 1042, belonging to the Topoisomerase inhibitors class of compounds, for use as potential treatment of various types of cancer.

Dr Reddy's said that it has completed phase I of the clinical trials for DRF 1042 in India.

Under the terms of the agreement, the drug company and ClinTec will co-develop DRF 1042 and undertake phase-II and phase-III clinical trials with the aim of securing USFDA and EMEA approvals.

Dr Reddy's will retain the commercialisation rights for the US and rest of the world markets (excluding ClinTec International territories). ClinTec will be granted the commercialisation rights for most of Europe, including major European markets.

On commercialisation of the product, Dr Reddy's will receive royalty on sales by ClinTec in its designated territories and ClinTec will receive royalty on sales by Dr Reddy's in the US. In the event of either party out-licensing the drug product, the proceeds from such an arrangement will be shared by both the parties.