Mr. Venkat Jasti holds a Master degree in Pharmacy from Andhra University and M.S. in Industrial Pharmacy, St.John's University, NY, USA. Mr. Jasti started his career as a Production Officer in Warner Hindustan Limited and later on migrated to USA wherein he owned and operated a chain of 6 community pharmacies in the United States for 12 years. He came back to India and established Suven Pharmaceuticals Limited in the year 1989.
The risky business of drug discovery has resulted in a new 'co-opetitive' approach. Today, many Indian pharma companies are partnering with Big Pharma, giving rise to different collaborative drug discovery models.Some of the most common models used by pharma companies are alliances, joint ventures (JVs), licensing, co-development, de-merging R&D units, contract services etc. Contract services range from fee-for-service through alliances and collaborations. Suven has adopted a concept-to-clinical candidate development model, ie full-scale innovation. This involves negotiated research funding, success-based milestones which accrue throughout the collaboration and if the discovered candidate makes it to the market after clinical development, royalties on world wide sales.
Suven started as supplier of intermediates for new chemical entities (drugs under development) as a thrust area and are also into contract research and manufacturing services (CRAMS). So far developed more than 130 intermediates for new chemical entities worldwide these had focussed on theurepatic category like anti-cholesterol, anti-depressant, anti-AIDS, anti-hypertension, anti-convulsant and medical imaging.
In 2008, Suven signed a second agreement with Eli Lilly and Company to collaborate on the pre-clinical research of molecules in the therapeutic area of central nervous system disorders (CNS).
As per the collaboration agreement, Suven will be responsible for discovery activities related to the identification and selection of clinical candidates in the area of CNS, in close association with Lilly. Under the terms of the collaboration agreement, Suven will receive research funding and as well as potential discovery and development milestone payments in the range of $19 million to $23 million per candidate, and potential royalties on net sales of any products that may be successfully commercialized from the collaboration.
As per the collaboration agreement, Suven will be responsible for discovery activities related to the identification and selection of clinical candidates in the area of CNS, in close association with Lilly. Under the terms of the collaboration agreement, Suven will receive research funding and as well as potential discovery and development milestone payments in the range of $19 million to $23 million per candidate, and potential royalties on net sales of any products that may be successfully commercialized from the collaboration.
It recently secured one more Product patent from EPO for NCE for treatment of Neurodegenerative disceases.
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