US' pharmaceutical company obtains licensing rights from IMTECH.Byline: ANI
New Delhi, Feb. 24 (ANI): The US-based Nostrum nostrum /nos·trum/ (nos´trum) a quack, patent, or secret remedy.
A medicine whose effectiveness is unproved and whose ingredients are usually secret; a quack remedy. Pharmaceuticals has obtained worldwide licensing rights from the Indian-based Institute of Microbial Technology (IMTECH IMTECH Institute of Microbial Technology ), to develop and commercialise Caerulomycin A, and its proprietary derivatives and analogues for their novel indication and immunosuppression.
IMTECH is a constituent laboratory of the Council of Scientific and Industrial Research The Council of Scientific & Industrial Research (CSIR) is the premier industrial research and development (R&D) organization in India. It was founded on 26 September, 1942, by a resolution of the then Central Legislative Assembly. (CSIR),
Significance of the deal lies in potential of Caerulomycin to develop into a blockbuster drug to be used to prevent organ transplantation rejection and diseases such as certain autoimmune disorders where immunosuppression is the key to the mitigation of the symptoms.
Nirmal Mulye, Nostrum President and Girish Sahni, Director, IMTECH signed the licensing agreement in the presence of Union Science and Technology Minister Kapil Sibal.On the basis of the molecule which we have discovered, we have signed an agreement with the company and it seems we are going to benefit from it and if in future if we become successful then it would become a multi billion dollar blockbuster drug. We hope that we will make a drug, which will be useful for people, cheap and accessible and also CSIR and our partners will benefit from it," said Sibal.
Girish Sahni, Director, IMTECH, said, "the molecule discovered would be used in tissue transplantation like in kidney, heart. Today the drugs available are very expensive and it's a big challenge to discover a new drug. It definitely is a proud moment."
This is the second molecule that IMTECH has under license with Nostrum, the first being a novel thrombolytic clot-buster protein known as SMRX11. (ANI)
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