| Suven may get $23mn for R&D from Eli Lilly |
| BS Reporter / Mumbai March 12, 2008 |
| Suven Life Sciences has signed a second agreement with US-based Eli Lilly and Company to collaborate on pre-clinical research of molecules in the therapeutic area of central nervous system (CNS) disorders. Suven will receive research funding as well as potential discovery and development milestone payments in the range of $19-23 million per candidate and potential royalties on net sales of products that may be commercialised from the collaboration. As per the agreement, Suven will be responsible for discovery activities related to the identification and selection of clinical candidates in the area of CNS in close association with Lilly. "We are very pleased and excited that Lilly has continued collaborate with us in the CNS arena thus showing confidence in Suven's drug discovery capabilities." said Dr. Ramakrishna Nirogi, vice president (drug discovery), Suven life Sciences. "We believe our collaborations with Lilly validates Suven's leadership position in CNS drug discovery," said Venkat Jasti, CEO, Suven Life Sciences. "This collaboration leverages Suven's small molecule drug discovery expertise with Lilly |
