Bangalore, March 22, 2010
Biocon today announced that its subsidiary company Syngene International Ltd., has entered into a discovery and development collaboration with Endo Pharmaceuticals USA (NASDAQ: ENDP) to develop novel biological therapeutic molecules against cancer. Under the agreement Endo will retain all rights to the molecules developed, while Syngene International will receive research fees, milestone payments and success fees from Endo.
Though cancer is set to overtake heart disease as the world's most prolific killer, cancer research and new onco-therapies are poised to pave the way for the next breakthrough in cancer therapy. As drug discovery moves away from cytotoxic drugs, biological targeted therapies are increasing time to progression and survival rates. Through this partnership, Syngene International and Endo Pharmaceuticals hope to leverage their synergistic capabilities and innovate novel therapeutic molecules for a robust cancer pipeline.
Speaking on the development, Kiran Mazumdar- Shaw, CMD, Biocon Group said, "We are very pleased to enter into this collaboration with Endo Pharmaceuticals as it showcases Syngene's expertise as an integrated custom research service provider. This agreement is also very significant considering the fact that it is for the first time in India that such a deal has been signed involving the discovery of a biological therapeutic entity."
"We look forward to collaborating with Syngene's experienced team in our efforts to discover novel treatments for oncology and deliver solutions to patients and providers," said Sandeep Gupta, Ph.D., Senior Vice President of drug discovery and early development at Endo. "This collaboration, which marks our entry into biologics discovery space, is consistent with our strategy of building Endo's pipeline using a virtual discovery approach, in conjunction with our in-licensing efforts."
About Syngene International Limited
Established in 1994 as a subsidiary of Biocon Limited, Syngene is an internationally reputed Custom Research Company with multi-disciplinary skills in integrated drug discovery. Syngene provides customised R&D services in early stage drug discovery and development to pharmaceutical and biotechnology companies worldwide. With best of class facilities and highly qualified researchers, Syngene offers its clients a powerful value advantage of carrying out high end discovery research in a cost-effective manner. For further information, please visit www.syngeneintl.com
About Endo Pharmaceuticals
Endo Pharmaceuticals is a specialty pharmaceutical company engaged in the research, development, sale and marketing of branded and generic prescription pharmaceuticals used to treat and manage pain, bladder cancer, prostate cancer and the early onset of puberty in children, or central precocious puberty (CPP).The company markets its branded pharmaceutical products to physicians in pain management, urology, endocrinology, oncology, neurology, surgery and primary care. More information is available at www.endo.com