NovaSAID, Cadila Enter Drug Development Pact

NovaSAID AB, a Karolinska Development portfolio company, and Cadila Pharmaceuticals have entered a strategic partnership to develop new treatments for inflammation and pain in conditions such as rheumatoid arthritis. The companies will collaborate on preclinical and clinical development of drug candidates developed by NovaSAID, which will be conducted at Cadila’s facility in Ahmedabad, India.
 
Cadila will have commercialization rights in India, the Middle East and Africa and the two companies will share sales in all other countries. Cadila will be responsible for all costs associated with the program through Phase II.
 
“This partnership gives the shareholders of NovaSAID the opportunity to take the company forward with great resources and no further costs. Cadila’s drug development expertise matched with NovaSAID’s scientific excellence provides a solid platform for the 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 the benefit for Karolinska Development’s shareholders,” said Dr. Torbjörn Bjerke, chief executive officer of Karolinska Development.