GVK BIO enters into drug discovery pact with Wyeth Pharmaceuticals

Hyderabad-based pharmaceutical contract researcher GVK BIO has entered into a research agreement with Wyeth Pharmaceuticals, a division of Wyeth (NYSE:WYE), to discover drug candidates focused on pre-defined discovery targets.

The Hyderabad-based mediccal biotechnolgy GVK BIO will utilise in-house capabilities in discovery chemistry, informatics, biology and ADME and be responsible for identifying drug candidates, which will be transferred to Wyeth to advance these compounds towards clinical studies.

Under the agreement, GVK BIO will receive an initial payment and will be eligible for success-based milestone payments.

"GVK BIO has had a successful partnership with Wyeth on various chemistry research activities dating to 2006," said G V Sanjay Reddy, managing director, GVK Biosciences. "This research agreement expands our work together and builds on GVK BIO's core strengths."