Dr Reddy's subsidiary inks pact with US-based Olema Pharmaceuticals
Dr Reddy's Laboratories on Thursday said its subsidiary has inked a pact with US-based Olema Pharmaceuticals Inc to research, develop and commercialise novel small molecule inhibitors of an undisclosed oncology target.
Olema and Aurigene Discovery Technologies, a wholly-owned unit of Dr Reddy's Laboratories, have inked an exclusive global licence agreement in this regard.
Under the terms of the agreement, Olema will make an upfront licensing payment of USD 8 million for the rights to a pre-existing Aurigene programme.
Aurigene will also be eligible for up to USD 60 million in potential clinical development and regulatory milestones and up to USD 370 million in potential commercial milestones, as well as royalties ranging from the mid-single digits to the low double digits, based on annual net sales.
During the research term, Olema will contribute funding to Aurigene to facilitate ongoing discovery efforts, Dr Reddy's said in a regulatory filing.
