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Jubilant Life Sciences signs drug discovery deal with Finland’s Orion

LiveMint logoLiveMint 13-05-2014 PTI

New Delhi: Jubilant Life Sciences Ltd has signed a drug discovery pact with Finland’s Orion Corp. to develop medicines in the neuroscience therapeutic area.

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

“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 and will retain ownership of the compounds developed under the collaboration with exclusive worldwide rights, the company said. 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 research and development laboratories of Jubilant Biosys (India) and some parts at Jubilant Discovery Center, US, 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,” president of Jubilant Biosys Subir Kumar Basak said. Jubilant Biosys is widely recognized 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 `169.80 on BSE, up 0.80% from its previous close.

The promoters of HT Media Ltd, which publishes Hindustan Times and Mint, and Jubilant Life Sciences are closely related. There are no promoter crossholdings.

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