Jubilant Life Sciences inks drug discovery pact with Finland's Orion Corp

Written by PTI | New Delhi | Updated: May 13 2014, 21:02pm hrs
Jubilant Life SciencesOrion will provide royalty to Jubilant Life Sciences and will retain ownership of the compounds developed. (Reuters)
Jubilant Life Sciences Ltd has signed a drug discovery pact with Finland's Orion Corporation to develop medicines in the neuroscience therapeutic area.

Jubilant Biosys, a Bengaluru-based subsidiary of Jubilant Life Sciences, has inked a drug collaboration pact with Orion Corporation, the company said in a statement today.

"The research deal is aimed at developing drug that can benefit large population with unmet needs in the pain management area," it added.

Under the royalty-based alliance, Orion will provide royalty to Jubilant Life Sciences and will retain ownership of the compounds developed under the collaboration with exclusive worldwide rights, the company said.

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Jubilant will offer integrated drug discovery services across synthetic and medicinal chemistry including scale up and pre-clinical facilities, it added.

The research for the project, which has been initiated, will be undertaken primarily at R&D laboratories of Jubilant Biosys (India) and some parts at Jubilant Discovery Center, USA, the company said.

"Over the past few years, we have been strengthening our therapeutic area focused discovery platform, and this partnership serves as a validation of our efforts. We are confident of offering successful results to Orion at various stages of research," Jubilant Biosys President Subir Kumar Basak said.

Jubilant Biosys is widely recognised for its expertise in offering integrated services in drug discovery and development solutions and for its prodigious capabilities in pain and inflammation, Jukka Sallinen, Head of CNS Research, Orion Pharma, said.

"With established ability to develop successful drugs, we consider Jubilant as our ideal partner to take forward our strategic business plans with optimum time-to-market and accuracy," Sallinen added.

Jubilant shares were trading at Rs 169.80 apiece on the BSE, up 0.80 per cent from its previous close.