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Alembic Pharma arm ties up with Novartis for drug development

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New Delhi: Alembic Pharmaceuticals group firm Rhizen Pharmaceuticals SA has entered into an exclusive worldwide license agreement with Novartis for the development and commercialisation of a lead compound that could be used in the treatment of human airway disorders.

Rhizen has inked a licensing pact with Novartis for the development and commercialisation of inhaled dual P13K-delta gamma inhibitor and its closely related compounds for various indications, Alembic Pharma said in a regulatory filing.

As per the agreement, Switzerland-based Rhizen will receive an up-front payment and is eligible to receive development, regulatory and sale milestones payments, it added.

In addition, Rhizen is also eligible to receive tiered royalties on annual net sales.

The lead compound has demonstrated anti-inflammatory and immunomodulatory activity in pre-clinical systems and models representative of respiratory diseases.

It holds promise in the treatment of human airway disorders, the company said.

At 1523 hours the share of Alembic Pharma were trading up 0.66%, or Rs 4.40 at Rs 673 per piece on BSE.

PTI