Lilly Partners with Japanese Pharma on Chronic Pain Relief
(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 entered into a licensing agreement with a Japanese pharmaceutical company to further develop and market a treatment for chronic pain.
Lilly and Tokyo-based Asahi Kasei Pharma Corp. have announced the deal that gives Lilly the exclusive rights for AK1780, a P2X7 receptor antagonist.
The companies say the antagonist could lead to a therapy for chronic pain stemming from neuroinflammation.
“Lilly is committed to developing novel medicines that may provide relief for patients suffering with various pain conditions,” said Mark Mintun, M.D., vice president of pain and neurodegeneration research at Lilly. “We are pleased to license this molecule from Asahi Kasei Pharma, and look forward to developing it further as a potential treatment for neuroinflammatory pain conditions.”
Lilly will be responsible for global development and regulatory activities for AK1780. In return, Lilly will pay Asahi Kasei an upfront payment of $20 million.
The company may also be eligible for up to $210 million in potential development and regulatory milestones, as well as future payments based on sales of a commercialized product.
This transaction is subject to customary closing conditions.