ABBISKO-B(02256.HK): Enters Strategic Research Collaboration and License Agreement with Eli Lilly, Total Potential Deal Value Up to USD1.9 Billion
NewTimeSpace News: Abbisko Cayman Limited (02256.HK) announced that its indirect wholly-owned subsidiary Shanghai Abbisko Therapeutics Co., Ltd. has signed a strategic research collaboration and license agreement with Eli Lilly and Company for innovative drug R&D targeting multiple disease targets. The total potential consideration reaches USD1.9 billion plus tiered royalties on product sales. This deal represents an expansion and deepening of the parties’ cooperation established back in 2022. The Company reminds investors that uncertainties exist regarding the eventual development and commercialization of relevant products.
NewTimeSpace News: Abbisko Cayman Limited (02256.HK) released a voluntary announcement stating that Shanghai Abbisko Therapeutics Co., Ltd., its indirect wholly-owned subsidiary, has entered into a strategic research collaboration and license agreement with Eli Lilly and Company, a globally leading pharmaceutical enterprise. The two parties will jointly conduct innovative drug research and development targeting multiple disease targets to advance novel candidate medicines with global commercial potential.
Pursuant to the terms of the agreement, leveraging its early-stage drug discovery platform and integrated R&D system, Abbisko Therapeutics will carry out new drug discovery and early development programs against disease targets selected by Lilly. Abbisko Therapeutics will receive an upfront payment and be eligible for subsequent milestone payments upon the achievement of specified development, regulatory and commercial milestones. The aggregate potential consideration amounts to USD1.9 billion, in addition to tiered royalties based on the net sales of resulting products.
Back in 2022, Abbisko Therapeutics and Eli Lilly had executed a global collaboration and exclusive license agreement covering the discovery, development and potential commercialization of novel small-molecule therapeutics. The Company commented that the newly inked cooperation is expected to advance multiple innovative pipelines, further bolster the Group’s global innovation strategy and strengthen its long-term value creation potential.
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