Advinus Therapeutics achieves milestone in Drug Discovery

Written by Businesswire India | Bangalore | Updated: Jun 30 2010, 16:53pm hrs
Advinus Therapeutics, Ltd., today announced they have achieved the first success-based milestone in the drug discovery and clinical development collaboration with Janssen Pharmaceutica N.V. (Janssen). The original agreement between the parties was assigned to Janssen Pharmaceutica, N.V. by an affiliate, Ortho-McNeil-Janssen Pharmaceuticals, Inc. The companies have been working together since September 2008 to develop drug candidates for various disease targets. Under the collaboration, Advinus is responsible for drug discovery and early clinical development while Janssen retains the option to advance the drug candidates into late-stage clinical trials and worldwide commercialization.

The achievement of this milestone emphasizes Advinus commitment to explore novel approaches to discover innovative life-saving medicines for unmet clinical needs said Dr. Kasim Mookhtiar, CSO and Head Drug Discovery, Advinus Therapeutics. He further added that the achievement of the milestone also highlights Indias emerging strength in drug discovery.