At a Glance
- Company: Abbisko Therapeutics and Eli Lilly
- Location: Shanghai, China
- Deal value: Up to approximately US$1.9 billion, plus an upfront payment and tiered royalties
- Focus area: Discovery and early development of medicines across multiple targets
- Next steps: Abbisko will run discovery and early-stage work on Lilly-selected disease targets
What happened?
Abbisko Therapeutics said it has entered a strategic research collaboration and licence agreement with Eli Lilly to discover and develop innovative medicines across multiple targets. The companies did not disclose the specific disease areas or targets involved.
Why does it matter?
The deal deepens an existing relationship and could expand Abbisko’s role as a discovery partner for Lilly’s pipeline. It also gives Abbisko the chance to earn up to about US$1.9 billion in milestone payments, plus royalties if products reach the market.
Who’s behind it?
Abbisko Therapeutics is a Shanghai-based biopharmaceutical company focused on oncology, with work in precision oncology and immuno-oncology. Lilly is the global pharmaceutical partner selecting the targets and backing the development programme.
How was it achieved?
Under the agreement, Abbisko will use its early-stage drug discovery platform, R&D ecosystem, and development expertise to carry out discovery and early development work on programmes chosen by Lilly. The companies said they want to speed up innovative therapeutic programmes and bring new treatment options to patients worldwide.
What’s next?
Abbisko will advance the early-stage work, while Lilly retains the target selection and broader development role. The companies did not provide a timeline, but the agreement is designed to progress multiple programmes with global potential.
What are people saying?
Abbisko said the collaboration is expected to strengthen its global innovation strategy and long-term value creation potential. The company also noted that the partnership builds on a 2022 agreement between the two firms.