Abbisko Therapeutics and Eli Lilly and Company have signed a global partnership and exclusive license agreement to advance the discovery, development and commercialization of new molecules, according to a announcement.
The molecules will be developed against an undisclosed target for cardiometabolic diseases that pose unmet medical needs.
Leveraging its research and development (R&D) platform, Abbisko will oversee the subsequent discovery and development of molecules that modulate a novel therapeutic target.
Lilly will contribute to the effort by offering target-related prior discovery data and additional disease-specific knowledge and capabilities.
If Abbisko succeeds in advancing the compounds according to the stated goals, Lilly will obtain the rights to further advance and commercialize them.
If Lilly chooses not to develop the compounds, Abbisko will have the option of developing and commercializing them.
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Through this agreement, both companies can fully utilize each other’s current target-related compounds, platforms and technologies around the world to expand therapeutic choice for patients.
Under the agreement, Abbisko is entitled to obtain up to $258 million in milestone payments to achieve Lilly’s agreed preclinical, clinical development and commercial goals.
Additionally, the company will receive tiered royalty payments based on sales if Lilly chooses to handle clinical development and marketing.
If Abbisko is overseeing clinical development and marketing, then Lilly is eligible for milestone payments and tiered royalty payments based on sales.
Abbisko Therapeutics CEO Dr. Yao-Chang Xu said, “Over the past five years, Abbisko Therapeutics has built a world-class discovery engine with a proprietary platform that has delivered ten drug candidates, including four already in clinical trials.
“We are excited to leverage this platform to collaborate with Lilly on this truly novel R&D collaboration to develop innovative drugs against a critical drug target.
“This collaboration could significantly expand our pipeline and strengthen our capabilities as we strive to bring new therapies to patients and their families.”
In December last year, Eli Lilly Loxo Oncology’s R&D group at Lilly and Foghorn Therapeutics signed a strategic collaboration to develop new cancer treatments.
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