Ranbaxy Laboratories has signed an agreement with Geneva's Medicines for Malaria Venture for developing synthetic peroxide anti-malarial drug, according to a release issued by the company to the Bombay Stock Exchange on Monday.

Besides pharmaceutical and clinical development, Ranbaxy will have worldwide rights for the registration and commercialisation of the product, the release said.

Ranbaxy's team of scientists will work in collaboration with scientists and researchers from the University of Nebraska Medical Centre, Monash University and the Swiss Tropical Institute in identifying a candidate for development, it added.