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Indian Research Firm Joins Hands With Alabama Institutions to Develop Innovative Therapies
Jubilant Organosys is described as the largest Indian research and manufacturing services firm while the Alabama varsity ranks in the top 25 nationally in National Institutes of Health (NIH) funding; it is a rich source of biological targets for drug development. The Southern Research discovered and helped move seven FDA-approved cancer drugs to market, with five more drugs in late-stage preclinical and early clinical studies.
The joint venture will be a U.S.-India arbitraged and leveraged partnership. A Memorandum of Understanding was signed Monday in Washington, DC. Key components of the agreement include:
-- Selecting the most promising biological targets discovered by
biomedical researchers at UAB, Southern Research and Jubilant;
-- Developing new drugs around these targets through work performed at
UAB and Southern Research, and Jubilant in India;
-- Using early research data to secure federal funding to create new
research jobs;
-- Developing drugs through Preclinical and or Phase 2 clinical trials to
maximize value to potential licensees, and securing partnerships with
the pharmaceutical industry; and,
-- Licensing drugs to the pharmaceutical industry with revenues
distributed to investment participants in milestone payments and
royalty streams.
Commenting on the development Shyam S. Bhartia, Chairman and Managing Director, and Hari S Bhartia, Co-chairman and Managing Director, Jubilant Organosys, said, "This novel academic and industrial collaboration demonstrates our commitment to partner with globally renowned academia in order to identify and deliver affordable innovation and healthcare solutions to the patients worldwide. We are happy to join hands with UAB and Southern Research Institute, known for its strengths in the areas of oncology, metabolic disease and infectious diseases. The collective innovation capabilities of this partnership further augments our mission to be the most innovative Drug Discovery and Development group in India, accelerating global drug development."
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