Healthcare company Eli Lilly and Company (NYSE:LLY) disclosed on Tuesday the launch of a global licensing and research collaboration with ImmuNext Inc, with focus on the study of a preclinical novel target that could lead to potential new medicines for autoimmune diseases by regulating immune cell metabolism.
The agreement provides ImmuNext with an upfront payment of USD40m, eligible to receive up to approximately USD565m in development and commercialisation milestones, as well as tiered royalties ranging from the mid-single to low-double digits on product sales.
Pursuant to the partnership, Lilly will receive an exclusive, worldwide license to develop and commercialise the novel immunometabolism target from ImmuNext.
In addition, Lilly and ImmuNext will establish a three year research collaboration to support the target's development.
This transaction is subject to customary closing conditions. The transaction will be reflected in Lilly's reported results and financial guidance according to Generally Accepted Accounting Principles (GAAP). There will be no change to Lilly's 2019 non-GAAP earnings per share guidance as a result of this transaction.
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