INDIANAPOLIS and TEL AVIV, March 8, 2021 / PRNewswire / – Eli Lilly and Company (NYSE: LLY) and Biolojic Design Ltd. (“Biolojic”), a biotechnology company that computationally designs functional antibodies, today announced a research collaboration and license that will leverage Biolojic’s AI-based multibody platform to discover and develop a potential novel antibody-based therapy for the treatment of diabetes .
A multispecific antibody, or multibody, is a human antibody that is computationally engineered to bind two or more targets on each of its arms. The fine-tuning of the affinity and the respective competition of the two goals can lead to therapies with different activities that vary depending on tissue localization and metabolic parameters. The specific objectives to be explored in the collaboration were not disclosed.
Under the terms of the Agreement, Lilly pays research fees related to the collaboration and Biolojic is also entitled to receive up to a total of $ 121 million, consisting of potential milestones in development and marketing as well as a promissory note that can be converted into Biolojic shares at a later date. Biolojic is also entitled to receive tiered license fees in the low to mid single-digit range for product sales if Lilly successfully commercializes a therapy from the collaboration.
“Lilly continues to explore new ways to develop new drugs, and Biolojic’s multi-specific antibody platform is a promising approach,” he said Ruth Gimeno, Ph.D., Vice President of Diabetes and Metabolic Research at Lilly. “We look forward to working closely with the Biolojic scientific team and leveraging their expertise to discover and develop a potential antibody-based therapy for people with diabetes.”
“Our AI-based platform develops single and multispecific antibodies or multibodies that we believe can precisely target pre-defined epitopes to potentially execute novel biological programs that traditional antibodies have not previously been able to do,” he said Yanay OfranPh.D., CEO of Biolojic. “Although our internal pipeline is focused on computational antibodies for use in oncology and autoimmune diseases, we are excited to partner with Lilly and leverage our platform to develop potential therapies for diabetes. Our research with Lilly is another example, like ours Platform could enable reinterpretation of therapeutic approaches that were previously not possible. “
This transaction will be reflected in Lilly’s reported results and financial guidelines in accordance with generally accepted accounting principles (GAAP). This transaction will not change Lilly’s non-GAAP guidance for earnings per share for 2021.
About Biolojic Design
Biolojic Design is committed to healing patients by designing and developing a pipeline of revolutionary therapeutics. Based on AI, Biolojic’s technology develops single and multi-specific antibodies that precisely target predefined epitopes to run novel biological programs. Focusing on diseases that involve the immune system, Biolojic is developing a range of antibodies designed to unlock the full potential of well-studied signaling pathways. To learn more, please visit www.biolojic.com.
About Eli Lilly and Company
Lilly is a global healthcare leader that connects with discovery and discovery to create drugs that improve the lives of people around the world. We were founded more than a century ago by a man dedicated to making high quality medicines that meet real needs, and today we remain true to that mission in all of our work. Around the world, Lilly employees work to discover life changing medicines and bring them to those who need them, improve understanding and management of disease, and give back to communities through philanthropy and volunteering. To learn more about Lilly, please visit us at www.lilly.com. C-LLY
Lilly forward-looking statement
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about the benefits of a collaboration between Lilly and Biolojic, Lilly’s biologics and drug development strategies, and possible payments to Biolojic in connection with the collaboration and reflects Lilly’s current beliefs and expectations. However, as with any such company, there are significant risks and uncertainties involved in the research, development and commercialization of drugs. Among other things, there can be no guarantee that Lilly will realize the expected benefits of the collaboration, that the collaboration will result in commercially successful products, or that Lilly will implement its strategy as expected. For more information about these and other risks and uncertainties that could cause actual results to differ from Lilly’s expectations, see Lilly’s latest Form 10-K and 10-Q filed with the Securities and Exchange Commission ) were submitted. Lilly assumes no obligation to update any forward-looking statements.
SOURCE Eli Lilly and Company
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