GVK BIO enters into Drug Discovery Pact with Wyeth Pharmaceuticals

Company Brief

Hyderabad, May 26, 2008

GVK BIO today announced that it 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. GVK BIO will utilize in-house capabilities in Discovery Chemistry, Informatics, Biology and ADME to advance this program.

GVK BIO will 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 initial payments well as success-based milestone payments based on the research progress.

Mr. G V Sanjay Reddy, Managing Director, GVK Biosciences said “It is a momentous occasion for us. GVK BIO has had a successful partnership with Wyeth on various chemistry research activities dating to 2006. This research agreement expands our work together and builds on GVK BIO’s core strengths. This agreement further validates India’s capability to do innovative research along with leading pharmaceutical and biotech companies”.

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Farooque Shaikh

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