Mumbai: Orchid Chemicals and Pharmaceuticals Ltd said on Thursday that it has entered into a strategic partnership with Europe-based Allecra Therapeutics to develop antibiotics to treat multi-drug resistant bacterial infections.
Chennai-based Orchid has assigned to Allecra intellectual property related to an antibiotic discovery programme. Orchid will be paid an upfront sum and is eligible to receive further royalties and exit bonuses based on Allecra’s progress.
“We have always believed in building collaborative business models to achieving our vision. This strategic partnership with Allecra is yet another demonstration of how we can create value by harnessing the relative strengths of each company,” said Orchid chairman and managing director K. Raghavendra Rao.
