Suven Life Sciences & Eli Lilly Establish Drug Discovery Collaboration

Suven Life Sciences Ltd on August 29, 2006 has announced that it has signed an agreement with Eli Lilly and Company, a U.S. based global pharmaceutical company, to collaborate on the pre-clinical research of molecules in the therapeutic area of central nervous system disorder, (CNS).

"This effort is a collaboration between Suven and Lilly, with scientists from both parties working together in a team, with the goal of identifying potent, oral compounds that selectively modulate the specified G-Protein Coupled Receptor for the target CNS disease," said Dr Ramakrishna Nirogi, Vice President, Drug Discovery of the Company.

The Company will receive payments from Lilly and potentially downstream payments if the identified candidates are selected by Lilly for further pre-clinical research and development.

"This is our first true research collaboration with a global pharmaceutical company, thereby helping us realize the next step of our strategic vision," said Mr Venkat Jasti, Vice Chairman and CEO of the Company "Suven’s decade old business model has expanded from contract research and manufacturing services (CRAMS) to drug discovery and development support services (DDDSS) to now collaborative research (CRP) with a leading global life science player."

Source : Equity Bulls

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