NovaSaid and Cadila Pharmaceuticals report they will work together to develop new treatments for inflammation and pain in a deal that allows NovaSaid to advance its mPGES-1 inhibitor products without incurring additional expenses.
Preclinical and clinical development of NovaSaid’s drug candidates will be conducted at Cadila Pharmaceuticals’ facility in Ahmedabad, India. All revenue generated from the sale and marketing in India, Middle East, and Africa of products covered by the agreement will be retained by Cadila, and net sales in all other countries will be shared by the two companies. Cadila will bear all costs associated with the program through to Phase II.
“This partnership gives the shareholders of NovaSaid the opportunity to take the company forward with great resources and no further costs. Cadila’s drug development expertise matched with NovaSaid’s scientific excellence provides a solid platform for the further development of these novel drug candidates, according to Torbjörn Bjerke, M.D., CEO of Karolinska Development. NovaSaid is a Karolinska Development portfolio company.
“We have entered this partnership combining scientific expertise of NovaSaid and our drug development capabilities to work towards novel solutions in treatment of pain and inflammation. This is in line with the vision of our Founder Chairman, Mr. I. A. Modi, who believed in nurturing innovations and bringing them to Indian patients at an affordable cost,” Rajiv I. Modi, Ph.D., chairman and managing director, Cadila Pharmaceuticals, explained in a statement.
Early last year Cadila inked a similar agreement with Pergamum, another Karolinska Development portfolio company, to develop a new treatment for infections based on a novel targeting mechanism that is different from classical antibiotic therapy.