Aurigene Announced Significant Milestone in a Collaboration Program
Aurigene has announced the achievement of a significant pre-clinical milestone in a Discovery collaboration with Novartis Pharma AG, Switzerland. Aurigene, which entered into a collaboration with Novartis in October, 2007, has been involved in the generation of pre-clinical candidates in this Oncology-focused program. This is the first of the programs that are covered under the agreement. Aurigene is responsible for discovery and pre-clinical research activities, and Novartis is responsible for clinical development and commercialization of candidates which advance into human testing. Under the terms of the agreement, Aurigene receives Research Funding and Milestone payments upon reaching specific pre-clinical and clinical milestones in each of the programs. The program, involving a focused group of scientists from Aurigene, Bangalore, and the Cambridge and Basel sites of Novartis, achieved its Research objectives within a period of 15 months, considerably ahead of the expected timelines. Aurigene and Novartis are currently involved in generation of backup pre-clinical candidates for the same target. CSN Murthy, CEO of Aurigene, said, This represents an important success not just for this scientific program, but also for the strategic path that was established through this agreement between Novartis and Aurigene. This is a truly synergistic relationship that takes advantage of the proven experience, expertise and processes at Novartis, coupled with the speed, flexibility and high-quality science at Aurigene.
