Pharmaceutical firm Suven Life Sciences has signed an agreement with US-based Eli Lilly to collaborate on the pre-clinical research of molecules used in the treatment of Central Nervous System(CNS) disorders.
Suven would receive research funding and as well as potential discovery and development payments of up to US$ 23 million per candidate plus royalties on net sales of products that may be commercialised from the collaboration, Suven said in a filing to the Bombay Stock Exchange. “We are very pleased and excited that Lilly has continued to collaborate with us in the CNS arena, thus showing the confidence in Suven’s drug discovery capabilities,” Suven Life Vice President Drug Discovery Ramakrishna Nirogi said. Earlier in 2006, the company had signed a similar agreement with the US-based pharmaceutical firm for CNS disorder. Under the agreement, Suven was to receive payments from Lilly and also potentially downstream payments if the identified candidates are selected by Lilly for further pre-clinical research and development, the company had said. Shares of Suven were trading at INR 37.70, up 7.41 per cent in the late afternoon trading session on the BSE.