Indian drug maker Dr. Reddy's Laboratories Ltd. and ClinTec International said Wednesday they agreed to partner in the further development of a new cancer treatment. Financial details of the agreement were not disclosed.
Under the agreement, Dr. Reddy's and ClinTec will cooperate on mid-stage and late-stage development of the experimental cancer treatment designated "DRF 1042," a compound belonging to a type of drugs known as topoisomerase inhibitors. Dr. Reddy's has already completed early-stage testing of the compound. Both companies will work to secure approval from the Food and Drug Administration and European regulators.
Dr. Reddy's retains U.S. and world rights to the compound, excluding certain markets that Windsor, England-based ClinTec serves, namely, most of Europe. The companies will receive royalties on each others' sales of a resulting treatment, and out-licenses to third parties will be shared in a predetermined ratio, excluding Dr. Reddy's markets outside the United States.
The Hyderabad, India-based company also retains rights to supply the finished product.
Subscribe via RSS
