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Hyderabad
IICT sells five patents
Special Correspondent
HYDERABAD:
The Indian Institute of Chemical Technology (IICT) here sold five patents in 2005-06 on anti-cancer agents/compounds and they are being licensed.Announcing this at a press conference here on Tuesday, IICT Director J.S. Yadav said the patents pertained to drug discovery and development of new molecular entities. He said that the companies, including those in the US which bought the patents, would be paying additional patent costs to the IICT.
One of the companies, Ind US Pharma, promoted by NRI Praveen Chaturvedi, had a subsidiary Sindu Pharma Private Ltd. It is likely to set up a unit to manufacture an anti-drug for which land had been acquired.
MoU signed
He said a German company was buying an IICT patent for which an MoU was to be signed here on March 5.
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