Lilly Signs Collaboration Agreement with California Company
(photo courtesy: Eli Lilly & Co.)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Eli Lilly and Co. (NYSE: LLY) has inked a multi-year collaboration and licensing agreement with Lycia Therapeutics Inc. in California. Lilly says the partnership is focused on the discovery, development and commercialization of new therapeutics targeting disease areas such as immunology and pain.
The therapeutics developed through the partnership will use Lycia’s proprietary lysosomal targeting chimera, or LYTAC, a protein degradation technology. Lilly says the companies will use the LYTAC platform to develop therapeutics “for up to five targets that aim to address key unmet medical needs in Lilly’s therapeutic areas of focus.”
“This collaboration with Lycia furthers Lilly’s strategy to utilize innovative new technology to treat challenging disease areas, such as immunology and pain,” said Dr. Ajay Nirula, vice president of immunology at Lilly. “We believe Lycia’s technology may allow us to develop targeted therapeutics that were not previously feasible and make advances for patients in areas of high unmet need.”
As part of the agreement, Lycia will receive an upfront payment of $35 million and will be eligible to receive more than $1.6 billion additional payments if certain preclinical, development, and commercial milestones are met.
Lilly says it will be responsible for preclinical and clinical development of therapeutic candidates and will receive an exclusive worldwide license to commercialize any potential medicines developed through the agreement.