Cadila Pharmaceuticals on Monday announced a partnership with Swedish NovaSAID to develop innovative treatment for inflammation and pain management.
The duo will develop new treatment for inflammation and pain in conditions such as rheumatoid arthritis. NovaSAID is a company in Karolinska Development’s portfolio.
The companies will collaborate around pre-clinical and clinical development of drug candidates that have been developed by NovaSAID. This development will be conducted at Cadila Pharmaceuticals’ facility in Ahmedabad.
According to the agreement, all revenues generated from the sale and marketing of products in India, West Asia and Africa, will be retained by Cadila and net sales in all other countries will be shared by the two companies. Cadila will bear all the costs associated with the programme, Rajiv I. Modi, Chairman and Managing Director, said here.
This partnership gives the shareholders of NovaSAID an opportunity to take the company forward with more resources and no further costs. Cadila’s drug development expertise, matched with NovaSAID’s scientific excellence, provides a platform for further development of these novel drug candidates.
“If successfully developed, valuable deals could be signed in major territories such as the US and Europe to benefit Karolinska Development’s shareholders,’’ Torbjörn Bjerke, CEO, Karolinska Development, said.