Tuesday, May 12, 2015

Lilly joins with German biotech firm in Cancer-fighting deal

Eli Lilly and Company and BioNTech AG announced that they have signed a research collaboration agreement for the discovery of novel cancer immuno-therapies.Under this partnership, both companies will work on identifying and validating novel tumor targets and their corresponding T cell receptors (TCRs) in one or more types of cancer. Eli Lilly will make a $30 million equity investment in BioNTech's subsidiary, Cell & Gene Therapies GmbH, which specializes in the research and development of TCR and chimeric antigen receptor immunotherapeutics. Additionally, Eli Lilly will pay development, regulatory and commercial milestones of over $300 million for each potential therapy developed under this collaboration, apart from a signing fee of $30 million. Upon the successful commercialization of the drugs, BioNTech will be entitled to receive tiered royalty payments in up to double digits.


No comments:

Post a Comment