Deal Signed Between Nostrum Pharmaceuticals And Institute Of Microbial Technology

by Aruna on  February 25, 2009 at 3:17 PM Corporate News   - G J E 4
 Deal Signed Between Nostrum Pharmaceuticals And Institute Of Microbial Technology
Nostrum Pharmaceuticals has obtained worldwide licensing rights from (IMTECH), to develop and commercialize Caerulomycin A, and its proprietary derivatives and analogues.

The Indian-based Institute of Microbial Technology, IMTECH is a constituent laboratory of the Council of Scientific and Industrial Research (CSIR).

Significance of the deal lies in potential of Caerulomycin to develop into a blockbuster drug to be used to prevent organ transplantation rejection and diseases such as certain autoimmune disorders where immunosuppression is the key to the mitigation of the symptoms.

Nirmal Mulye, Nostrum President and Girish Sahni, Director, IMTECH signed the licensing agreement in the presence of Union Science and Technology Minister Kapil Sibal. "On the basis of the molecule which we have discovered, we have signed an agreement with the company and it seems we are going to benefit from it and if in future if we become successful then it would become a multi billion dollar blockbuster drug. We hope that we will make a drug, which will be useful for people, cheap and accessible and also CSIR and our partners will benefit from it," said Sibal.

Girish Sahni, Director, IMTECH, said, "the molecule discovered would be used in tissue transplantation like in kidney and heart. Today the drugs available are very expensive and it's a big challenge to discover a new drug. It definitely is a proud moment."

This is the second molecule that IMTECH has under license with Nostrum, the first being a novel thrombolytic clot-buster protein known as SMRX11.

Source: ANI

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