Issue Date: October 6, 2008
Advinus And Orchid Sign Discovery Deals
Two Indian firms have entered drug discovery and development agreements with Western drug companies. Advinus Therapeutics will work with Ortho-McNeil-Janssen Pharmaceuticals to develop drug candidates for various targets. Advinus says it will receive an up-front payment and possible milestone payments of up to $247 million upon successful development of two compounds. Meanwhile, Orchid Chemicals & Pharmaceuticals will work with Merck & Co. on novel agents for bacterial and fungal infections. Orchid says it will get an up-front payment and possible milestone payments of more than $100 million.
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