Dr. Reddy's Laboratories ($RDY) has licensed the Generx gene-therapy heart drug now in Phase III trials from U.S.-based Taxus Cardium Pharmaceuticals Group for the Myanmar, Russia, Vietnam and other markets. Financial arrangements for the deal were not disclosed.
Under the agreement, Dr. Reddy's is to help the drug through final-stage international trials and then to the markets in those countries. It also has first option for similar rights in about 30 other countries, including member nations of the Association of Southeast Asian Nations as well as Latin America.
The Taxus unit, Angionetics, which is expected to be spun off into a standalone company, is to retain the rights in the rest of the world, including China and Japan.
Generx is a gene therapy being tested for treating patients with refractory angina and myocardial ischemia due to cardiac microvascular insufficiency.
- here's the release