Abbisko Therapeutics said it has entered a new strategic research collaboration and license agreement with Eli Lilly and Company that could bring Abbisko up to approximately $1.9B in development, regulatory and commercial milestone payments. Under the deal, the companies will work together on the discovery and development of innovative medicines across multiple disease targets, with the goal of advancing novel drug candidates that can be developed globally.
Abbisko will use its early-stage drug discovery platform, research ecosystem and development expertise to carry out discovery and early development work on programs directed against targets selected by Lilly. In return, Abbisko will receive an upfront payment and is eligible for the milestone payments tied to progress in development, regulatory approvals and commercial performance, as well as tiered royalties on annual net sales of any products that emerge from the collaboration. Lilly will lead global development and commercialization of resulting candidates.
The companies said the expanded agreement builds on an existing relationship that began in 2022, when they entered a global collaboration and exclusive license deal around a novel small‑molecule therapeutic. The new pact broadens the scope to multiple targets, reflecting a deeper alignment in drug discovery and development between Abbisko and Lilly.
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