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Thursday, August 31, 2006

Suven - Eli Lilly Ink Research Deal

Hyderabad-based Suven Life Sciences has signed an 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. As per the agreement, Suven will receive milestone payments from Lilly and potentially downstream payments if the identified candidates are selected by Lilly for further pre-clinical research and development.

"This is our first true research collaboration with a global pharmaceutical company thereby helping us realise the next step of our strategic vision," Venkat Jasti, vice chairman and chief executive officer of Suven, said in a press release issued today.

Jasti added that Suven's decade-old business model had expanded from contract research and manufacturing services (CRAMS) to drug discovery and development support services (DDDSS) and now to collaborative research (CRP) with a leading global life science player.

According to Ramakrishna Nirogi, vice president (drug discovery) of Suven, scientists from both parties would work together in a team with the goal of identifying potent, oral compounds that selectively modulate the specified G-Protein coupled receptor for the target CNS disease.

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