Jubilant Life May BuyBack Eli Lilly's Stake In Drug Discovery JV
by Irfan Khan
Jubilant Life Sciences may buyback Eli Lilly & Company's stake in their drug discovery JV - Vanthys Pharmaceuticals as both the partners have decided to calloff the partnership. According to ET, Jubilant will absorb the two dozen-odd employees, mostly scientists working at the centre.
Bangalore based Vanthys Pharmaceuticals was formed in 2008 as a 50:50 JV between the two to develop molecules from the pre-clinical to phase II stage across oncology, diabetes and cardiovascular segments.
At the time of the announcement, the two firms had said they would jointly invest $8Mn in the Bangalore-based firm over the next three years.
Initially, Jubilant Life Sciences and Eli Lilly had begun work on about a dozen molecules, transferred from their respective research portfolio into the JV. The two companies will retain intellectual property of their respective molecules.