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22 September, 2017 17:17 IST
Dr. Reddy's Lab enters into global licensing pact with CHD Bioscience
Source: IRIS | 28 Jul, 2017, 10.13AM
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Dr Reddy's Laboratories and CHD Bioscience Inc., a privately-held biopharmaceutical company, announced a global licensing agreement for the clinical development and commercialization of Dr. Reddy's phase III clinical trial candidate, DFA-02. It is intended to be used for the prevention of surgical site infections, following non-emergency, elective colorectal surgery. Phase II studies for DFA-02 have been successfully completed, and the product will be transitioning to pivotal Phase III registration studies.

Under the terms of the agreement, Dr. Reddy's (Q,N,C,F)* would receive equity in CHD valued at USD 30 million upon an IPO of CHD or a minimum of USD 30 million in cash within 18 months of execution of the agreement.

Dr. Reddy's will also receive additional milestone payments of USD 40 million upon USFDA approval. In addition, CHD will pay Dr. Reddy's double-digit royalties on sales and commercial milestones.

Shares of the company declined Rs 137.5, or 5.25%, to trade at Rs 2,483.95. The total volume of shares traded was 52,106 at the BSE (10.02 a.m., Friday).



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