The CSIR-Indian Institute of Chemical Technology here said on Friday that it has signed an agreement withpharma major SunPharma for "out-licensing of patents on a New Chemical Entity for multiple therapeutic indications".
When new compounds are sought to be used as drug candidates, they are named as NCEs, IICT sources said.
As per the agreement, CSIR-IICT will get payments totaling Rs 240 crore, including upfront, development and regulatory and other payments, IICT said in a release.
"Further, the institute will also get payments fromSunPharma through royalties on net sales on commercialization of the products developed using these patents," the release said.
SunPharma will be responsible for development, regulatory filings, manufacturing and commercialization of these potential products, it said.
"This is only a beginning of out-licensing (giving rights to take forward as drugs) NCEs as several patents of CSIR-IICT on NCEs are being negotiated with potential drug development companies.
At this juncture, I am happy to inform that our institute holds India's largest state of the art NCE repository in our campus," S Chandrasekhar, Director of CSIR-IICT, said.
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