Abbisko Therapeutics Co., Ltd. on Tuesday announced a new strategic research collaboration and license agreement with Eli Lilly and Co. (NYSE:LLY) aimed at discovering and developing innovative medicines across multiple disease targets.
The partnership expands the relationship between the two companies as they seek to advance novel drug candidates with global potential by combining their respective strengths in drug discovery, research and development, and global drug development capabilities.
Abbisko Eligible For Up To $1.9 Billion In Milestone Payments
Under the terms of the agreement, Abbisko will lead discovery and early-stage development activities for novel drug programs targeting diseases selected by Lilly.
The company said it will leverage its early-stage drug discovery platform, research and development ecosystem, and development expertise to support the collaboration.
Financial terms include an upfront payment to Abbisko, along with eligibility for development, regulatory, and commercial milestone payments totaling as much as approximately $1.9 billion.
In addition, Abbisko could receive tiered royalties tied to annual net sales from products developed through the collaboration.
New Deal Builds On Existing Abbisko-Lilly Relationship
The latest agreement builds on a prior partnership established in 2022, when Abbisko and Lilly entered into a global collaboration and exclusive license agreement focused on the discovery, development, and potential commercialization of a novel small-molecule therapeutic.
Abbisko said its evolving drug discovery platform, extensive research experience and execution capabilities have enabled it to broaden its network of global partnerships while accelerating the translation of scientific research into therapeutic programs.
In June, Eli Lilly announced separate licensing and research agreements with South Korea-based Hanmi Pharm and China-based Haisco Pharmaceutical Group, expanding its access to new drug candidates and discovery programs.
Eli Lilly Price Action
LLY Stock Price Activity: Eli Lilly shares were up 0.36% at $1111.03 at the time of publication on Wednesday, according to Benzinga Pro data.
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