Abbisko Therapeutics (2256.HK) announced that it has signed a strategic research collaboration and licensing agreement with Eli Lilly (LLY). Under the agreement, the two companies will work together to discover and develop multi-target drugs.
The collaboration aims to advance new drug candidates with global potential, according to a statement from the company. Abbisko will utilize its early-stage discovery platform, R&D ecosystem, and development expertise in new drug programs targeting disease targets selected by Lilly.
Abbisko could receive a total of $1.9 billion from Eli Lilly
Under the terms of the agreement, Abbisko will receive an upfront payment from Eli Lilly. The company may also be eligible to receive payments totaling up to approximately $1.9 billion, contingent on development, regulatory approval, and commercial milestones. Abbisko will also be eligible to receive tiered royalty payments based on the annual net sales of products resulting from the collaboration.
Abbisko and Lilly previously signed a global collaboration and exclusive licensing agreement in 2022 for the discovery, development, and potential commercialization of a new small-molecule therapeutic product.
