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Abbisko partners with Eli Lilly to develop novel molecules for cardiometabolic diseases
Abbisko Therapeutics has inked a pact with Eli Lilly to develop and commercialise novel molecules against an undisclosed target for cardiometabolic diseases.
Abbisko is eligible to receive up to $258 million in potential payments based on the achievement of prespecified preclinical, clinical development and commercial milestones, as well as tiered royalties on sales, if Lilly is responsible for clinical development and commercialization.
Under the terms, Abbisko will use its proprietary R&D platform to work on further discovery and development of molecules that modulate a novel target. If Abbisko manages to advance the compounds to the agreed-upon endpoints, Lilly will have the right to further develop and commercialize them. If Lilly chooses not to take them over, Abbisko will have the right to further develop and commercialize them.
Both companies did not disclose what target they aim at, but Abbisko CEO Xu Yaochang said it is
By Elise Mak
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