Abbisko Therapeutics collaborates with Lilly to discover novel molecules
pharmafile | January 18, 2022 | News story | Manufacturing and Production |
Abbisko Therapeutics announced that it has entered into a partnership and exclusive licensing agreement with Eli Lilly and Company. This collaboration is focused on the further discovery, development, and potential commercialisation of novel molecules against an undisclosed target for cardiometabolic diseases with critical unmet needs.
Under the terms of this collaboration, Abbisko Therapeutics will be responsible for the further discovery and development of molecules that modulate a novel and challenging drug target using its R&D platform. Lilly will provide prior discovery information associated with this target, as well as certain additional disease knowledge and expertise.
If Abbisko Therapeutics successfully advances the compounds to the agreed upon endpoints, Lilly will have the right to further develop and commercialise the opportunity. However, if Lilly elects not to advance the compounds, then Abbisko Therapeutics will have the right to further develop and commercialise.
“During the past five years, Abbisko Therapeutics has established a world-class discovery engine with a proprietary platform that has delivered ten drug candidates including four already in clinical trials,” said Dr Yao-Chang Xu, CEO of Abbisko Therapeutics. “We are excited to leverage this platform to collaborate with Lilly on this truly novel R&D collaboration to develop innovative medicines against a critical drug target. This collaboration could significantly expand our pipeline and strengthen our capabilities as we strive to bring novel therapies to patients and their families.”
Abbisko Therapeutics is eligible to receive up to US $258 million in potential payments based on the achievement of prespecified preclinical, clinical development, and commercialise milestones.
Lina Adams
