Abbisko partners with Eli Lilly to develop novel molecules for cardiometabolic diseases; ReviR Therapeutics, Leman, SparX Bio - News of the day
Elise Mak ·01/18/2022
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Top news story of the day:

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.

But if Abbisko will take charge of clinical development and commercialization, then Lilly would receive development and commercialmilestone payments, as well as tiered royalties on sales.

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 a critical drug target.

In a previous interview with PharmaDJ, Xu said the company has built an FGFR franchise, and its immuno-oncology and precision oncology portfolios will maximize synergy.

By Elise Mak

What else in China:

ReviR Therapeutics, an AI and RNA startup, closes tens of millions of dollars in Pre-A funding support.

Leman Biotech, which focuses on novel tumor immunotherapy drugs, completed an angel funding round of nearly ¥100 million($15.7 million).

SparX Bio announced the initiation of a Phase I clinical trial in the United States of its proprietary monoclonal antibody drug SPX-101 for the treatment of advanced pancreatic, gastric, bile duct, and ovarian cancers.

The FDA approved the IND application for Denovo Biopharma's international phase 2b clinical trial of liafensine, a new drug against refractory depression.

By Sarina Yang


Keywords: Abbisko Lilly ReviR Therapeutics Leman SparX Bio
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