GVK BIO Enters Into Drug Discovery Pact with Wyeth Pharmaceuticals
May 26, 2008
Hyderabad, India — May 26, 2008 — GVK BIO today announced that it has entered into a research agreement with Wyeth Pharmaceuticals, a division of Wyeth (NYSE:WYE), to discover drug candidates focused on pre-defined discovery targets. GVK BIO will utilize in house capabilities in Discovery Chemistry, Informatics, Biology and ADME to advance this program.
GVK BIO will be responsible for identifying drug candidates, which will be transferred to Wyeth Pharmaceuticals to advance these compounds towards clinical studies. Under the agreement, GVK BIO will receive an initial payment and will be eligible for success-based milestone payments.
Mr. G V Sanjay Reddy, Managing Director, GVK Biosciences said “It is a momentous occasion for us. GVK BIO has had a successful partnership with Wyeth Pharmaceuticals on various chemistry research activities dating to 2006. This research agreement expands our work together and builds on GVK BIO’s core strengths. This agreement further validates India’s capability to do innovative research along with leading pharmaceutical and biotech companies”.
About GVK BIO Collaborative Research
The Collaborative Research SBU (Strategic Business Unit) of GVK BIO focuses on innovation led drug discovery activities like generating hits, advancing hit compounds/chemical series to identify drug candidates and developing backup/fast follower programs. Using GVK BIO’s state-of the-art Informatics Databases, the SBU integrates expertise in Medicinal Chemistry, Computational Chemistry, In-vitro and In-vivo Biology, ADME and Toxicity capabilities to collaborate with leading life-sciences companies to advance research.
About GVK BIO
GVK Biosciences, India’s premier Contract Research Organization, delivers integrated research services to life-sciences companies globally. The company accelerates the Research and Development process of its customers through science and innovation. Currently the company has more than 1,300 employees spread across facilities in Hyderabad, Gurgaon.