Chennai-based global pharma major, Orchid Pharma (Orchid) has entered into a strategic partnership with Europe-based venture capital funded Allecra Therapeutics to develop novel antibiotics to combat multi-drug resistant bacterial infections. As part of its investment into Allecra, Orchid has assigned to Allecra IP (Intellectual Property) related to an antibiotic discovery program which will then be pursued through further trials by Allecra.
Under the terms of the Agreement, together with shareholding, Orchid will also be paid an upfront sum and is eligible to receive further royalties and exit bonuses based on Allecra's progress.
Orchid Chemicals & Pharmaceuticals is a pharmaceutical company engaged in development and manufacture of active pharmaceutical ingredients (APIs) and finished dosage forms. It is also engaged in research of new drugs. The company was incorporated in the year 1992 as a 100% export-oriented unit (EOU).
