News & Press

Abbisko Therapeutics Announces Worldwide Collaboration with Lilly to Discover and Develop Novel Molecules

Jan 18,2022
By Abbisko
Back

Collaboration Combines Abbisko Therapeutics’ Proprietary Drug Discovery Platform with Lilly’s Disease and Discovery Expertise

Abbisko Therapeutics Is Eligible to Receive Research, Development and Commercial Milestone Payments

18 January 2022, Shanghai – Abbisko Therapeutics Co., Ltd. (“Abbisko Therapeutics” hereafter), a subsidiary of Abbisko Cayman Limited (Stock Code: 2256.HK), today announced that it has entered into a worldwide collaboration and exclusive licensing agreement (the “Agreement”) with Eli Lilly and Company (“Lilly”) for the further discovery, development and potential commercialization of novel molecules against an undisclosed target for cardiometabolic diseases with critical unmet medical needs.

Under the terms of the Agreement, Abbisko Therapeutics will be responsible for the further discovery and development of molecules that modulate a novel and challenging drug target using its proprietary R&D platform. Lilly will join the effort by providing prior discovery information associated with this target as well as certain additional disease knowledge and expertise. If Abbisko Therapeutics is successful in advancing the compounds to the agreed upon endpoints, Lilly will have the right to further develop and commercialize the opportunity. If Lilly elects not to advance the compounds, Abbisko Therapeutics will then have the right to further develop and commercialize. The Agreement will allow each party the opportunity to fully leverage both parties’ existing compounds, platform and technologies related to the target globally to maximize patient treatment choice.

“During the past five years, Abbisko Therapeutics has established a world-class discovery engine with a proprietary platform that has delivered ten drug candidates including four already in clinical trials,” said Dr. Yao-Chang Xu, CEO of Abbisko Therapeutics. “We are excited to leverage this platform to collaborate with Lilly on this truly novel R&D collaboration to develop innovative medicines against a critical drug target. This collaboration could significantly expand our pipeline and strengthen our capabilities as we strive to bring novel therapies to patients and their families.”

Abbisko Therapeutics is eligible to receive up to US$258 million in potential payments based on the achievement of prespecified preclinical, clinical development and commercial milestones, as well as tiered royalties on sales resulting from the Agreement if Lilly is responsible for clinical development and commercialization. If Abbisko Therapeutics is responsible for clinical development and commercialization, then Lilly would receive development and commercial milestone payments, as well as tiered royalties on sales resulting from the Agreement.

Forward-Looking Statements
The forward-looking statements made in this article relate only to the events or information as of  the date on which the statements are made in this article. Except as required by law, we undertake  no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of  unanticipated events. You should read this article completely and with   the understanding that our actual future results or performance may be materially different from  what we expect. In this article, statements of, or references to, our intentions or those of any of our Directors or our Company are made as of the date of  this article. Any of  these intentions may alter in light of future development.


Tel:(+86) 021-68912098

E-Mail:Public@abbisko.com Bd@abbisko.com

Copyright © 2021 All rights reserved:Abbisko Therapeautics     沪ICP备17056565号-1