Indian Institute of Chemical Technology signs Rs 240-cr worth deal

The global licensing pact is for patents for certain compounds developed by IICT, which have therapeutic properties in the field of oncology, ophthalmology

By Author  |  Published: 15th Aug 2019  12:03 amUpdated: 15th Aug 2019  12:07 am
Indian Institute of Chemical Technology
Source: Facebook

Hyderabad: The Hyderabad-based Indian Institute of Chemical Technology (IICT) has achieved a major milestone in translating its innovation into commercially viable life-saving drugs. Among the oldest chemical research laboratories in India, IICT has now entered into a global licensing pact worth Rs 240 crore with pharma major Sun Pharmaceutical Industries.

The global licensing pact is for patents for certain compounds developed by IICT, which have therapeutic properties in the field of oncology, ophthalmology, cardiology and dermatology. While the compounds have been developed by IICT through its innovation, drug development, getting the much-needed nod from regulatory authorities to manufacture and sell will be taken up by the pharma company.

The pact has been designed in such a way that royalties from the drugs that will be developed and sold in the market in the near future will be extended to IICT.

For over a decade, IICT scientists have been actively involved in identifying compounds with multiple indications, which means that they can be used for multiple medical conditions. During the platinum jubilee celebrations held in the first week of this month, IICT Director Dr S Chandrasekhar had said IICT had discovered compounds with the potential to become major drugs with potential applications in preventing heart attacks, strokes and vascular diseases.

The IICT researchers have access to the National Molecular Bank (NMB) where they have preserved more than 60,000 new Molecular Entities (NMEs). During the routine screening of the NMEs, the IICT researchers found compounds with the potential to become drugs for various medical conditions. In fact, a compound isolated by IICT researchers had anti-sclerotic properties, useful in preventing hardening or narrowing of arteries and ultimately heart attacks and strokes.

Wednesday’s global licensing pact of IICT with Sun Pharma is for patents related to certain compounds with potential therapeutic activity across multiple indications. The compounds developed by IICT could have potential applications in treating ailments related to skin, eye disorders and cancers.

For the last five years, the IICT researchers have been actively involved in developing technology to enable pharma companies manufacture the generic version of the drug Erubulin, which promises to bring down the cost of the drug for breast cancer patients.

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