Indian pharmaceutical firm Jubilant Organosys has informed, in a filing before Bombay Stock Exchange that it has signed a deal with UK-based AstraZeneca to collaborate in pharmaceutical research programs. Its subsidiary, Jubilant Biosys, can avail research funds for the initial five years to carry out research programs especially in neuroscience.

The Indian Pharmaceutical firm would also get payments and royalties from AstraZeneca while AstraZeneca would receive global development and commercialization rights of drugs produced under the agreement.

CMD of Jubilant Organosys, Shyam S Bhartia and Co-Chairman and MD Hari S Bhartia further added, "Through this partnership, Jubilant is confident of contributing to AstraZeneca's pre-clinical portfolio and anticipates significant rewards from successful downstream milestones."

Jubilant also signed similar deal with Amgen Inc last year besides forming a joint venture with Eli Lilly, a US based company to provide drug development services.

AstraZeneca's Executive Vice-President, Jan Lundberg, while hailing the agreement, said, "This collaboration complements our internal capabilities and increases the capacity of our pre-clinical programs."

Shares of Jubilant Biosys Ltd rose 10.83 per cent and traded at Rs 130 on the Bombay stock Exchange.