Jubilant Biosys gets milestone payment from AstraZeneca

Jubilant Biosys, a unit of Jubilant Life Sciences, on Thursday said it has received an undisclosed amount as a milestone payment from AstraZeneca for its research on pain management in the neuroscience therapeutic area.

"The collaboration, which initiated two years ago in neuroscience therapeutic area, has now expanded to cardiovascular and metabolic diseases and focuses on the delivery of a steady stream of pre-clinical outcomes to AstraZeneca by Jubilant," Jubilant Life Sciences said in a
statement.

Earlier this week, Jubilant Biosys along with US-based Endo Pharmaceuticals received an undisclosed milestone payment for their joint programme on cancer. Commenting on the development, Jubilant Global Drug Discovery and Development CEO & President Sri Mosur said: "We are pleased that we have delivered outcomes and early success to the portfolio efforts at AstraZeneca. This is the result of excellent collaboration between scientists at Jubilant and AstraZeneca."

The alliance between Jubilant and London-headquartered drug firm AstraZeneca in the neuroscience therapeutic area began two years ago. As part of the partnership, AstraZeneca owns thecompounds developed under the collaboration with worldwide development and commercialisation rights, it said. On the other hand, Jubilant derives research funding and success-based development and commercialisation milestone payments, it added.

Shares of Jubilant Life Sciences were being quoted at Rs 162.95 apiece on the Bombay Stock Exchange in late afternoon trade today, up 0.74 per cent from their previous close.