Sun Pharma will have the exclusive option to conduct further development of the enzyme after completion of the pre-clinical studies.
Sun Pharma has entered into an agreement with Israel’s Weizmann Institute of Science and Spain’s Health Research Institute of Santiago de Compostela to develop products for treating neurological diseases like brain stroke and glioblastoma, a lethal brain cancer.
Scientists at Weizmann Institute have developed a recombinant enzyme currently undergoing animal studies for indications of brain stroke and glioblastoma.
Further studies of this enzyme will be conducted at the Health Research Institute of Santiago de Compostela in Spain. Moreover, this enzyme may potentially be indicated for uses beyond these two brain diseases.
“As per the signed tripartite agreement, Sun Pharma will have the first right to develop these additional indications,” the Mumbai-based company said in a statement.
Besides, Sun Pharma will have the exclusive option to conduct further development of the enzyme after completion of the pre-clinical studies, it added.
The company will have commercial rights to this product globally. It will also fund all future studies to be conducted on the enzyme, it said.
“We see our collaboration with world-renowned academic institutions like the Weizmann Institute of Science and the Health Research Institute of Santiago de Compostela enabling new projects on breakthrough products to address current unmet medical needs,” Sun Pharma Senior Vice President Kirti Ganorkar said.
Sun Pharma was trading at Rs 744 on BSE, down 1.95 per cent from previous close.