Jubilant Biosys Ltd., Bengaluru based subsidiary of Jubilant Life Sciences Ltd., and Endo Pharmaceuticals (Nasdaq: ENDP), of Chadds Ford, Pa, U.S.A., announced today that they have achieved a late stage discovery milestone in their joint program focused on cancer.
This is the third milestone in the two-year-old, multi-target, oncology focused partnership and enables the collaboration to rapidly pursue a development candidate. Endo and Jubilant had entered into a multiyear, multi-target oncology focused partnership in 2009. As a part of the partnership, Jubilant delivers preclinical development candidates and has an option to participate in clinical development. Endo owns the development and commercial rights to the successful outcomes. However, Jubilant derives research funding, development milestones and sales royalties on successful commercialization.
Commenting on this development, Sri Mosur, CEO& President, Global Drug Discovery & Development, Jubilant said: "We are pleased that we continue to enhance the portfolio outcomes for Endo Pharmaceuticals. It is an important achievement in our collaboration and demonstrates our scientist's commitment to Oncology research to deliver differentiated therapies to cancer patients worldwide. It will be our continued endeavor to support the collaboration in accelerating the development phase towards successful commercialization."
Sandeep Gupta, Sr. Vice President, Discovery and Early Development, Endo Pharmaceuticals commented: "We are pleased with the technical capabilities and productivity of the Jubilant team. They have done an outstanding job of designing novel molecules and to demonstrate preclinical proof of concept ahead of schedule. We look forward to nominating a development candidate in the near future."
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