China-based Haisco Pharmaceutical Group has announced a licensing and research collaboration with American firm Eli Lilly and Company to develop innovative medicines across multiple therapeutic areas.
Under the agreement, Haisco will be responsible for the discovery and identification of up to five innovative target programmes, while Lilly will lead IND-enabling studies, clinical development, and commercialization.
Lilly will obtain exclusive worldwide rights to certain programmes, and exclusive rights outside mainland China, Hong Kong, Macau, and Taiwan (the Haisco Territory) for certain other programmes, while Haisco will retain rights within the Haisco Territory for those programmes.
This collaboration reflects the first license and research collaboration between Haisco and Lilly. By leveraging each party's strengths in innovative drug development, the two companies will work together to accelerate the global advancement of innovative therapeutics.
Haisco will be eligible to receive up to $87 million in upfront and near-term payments, up to $2.967 billion in all remaining downstream milestones, as well as single-digit tiered royalties on future product sales.
