Eli Lilly, Sitryx to Collaborate on Immunometabolic Medicines
March 31 2020 - 7:51AM
Dow Jones News
By Colin Kellaher
Eli Lilly & Co. on Tuesday said it formed a licensing and
research collaboration with privately-held Sitryx aimed at
discovering potential new medicines for autoimmune diseases.
The Indianapolis drug maker said the collaboration will study up
to four novel preclinical targets identified by Sitryx, a U.K.
biopharmaceutical company focused on regulating cell metabolism to
develop disease-modifying therapeutics in immuno-oncology and
immuno-inflammation.
Eli Lilly said it will make a $10 million equity investment in
Sitryx, along with a $50 million upfront payment. The company said
Sitryx will be eligible for up to $820 million in potential
development milestones, as well as commercialization milestones and
royalties on sales.
In exchange, Eli Lilly will receive an exclusive, worldwide
license to develop and commercialize up to four novel
immunometabolism targeted therapeutics, including Sitryx's two lead
projects.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
March 31, 2020 07:36 ET (11:36 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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