INDIANAPOLIS and
LEBANON, N.H.,
March 26, 2019
/PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) and ImmuNext,
Inc. today announced a global licensing and research collaboration
focused on the study of a preclinical novel target that could lead
to potential new medicines for autoimmune diseases by regulating
immune cell metabolism.
"Immunology is an important area of research for Lilly,
and we seek novel targets that could develop into new medicines for
patients suffering with autoimmune diseases," said Ajay Nirula, M.D., Ph.D., vice president of
immunology at Lilly. "Regulating the metabolism of
immune cells is a promising approach to treating these diseases,
and we look forward to working with ImmuNext to
advance their immunometabolism target."
Jay Rothstein, Chief
Scientific Officer at ImmuNext, states that "We are pleased to work
with Lilly to bring forward a first-in-pathway antibody that
specifically targets the metabolism of lymphocytes to reprogram
rather than suppress the immune system."
Under the terms of the agreement, ImmuNext will receive an
upfront payment of $40 million, and
is eligible to receive up to approximately $565 million in development and commercialization
milestones, as well as tiered royalties ranging from the mid-single
to low-double digits on product sales. In return, ImmuNext will
grant Lilly an exclusive, worldwide license to develop and
commercialize the novel immunometabolism target. In addition, Lilly
and ImmuNext will establish a 3-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.
About ImmuNext
ImmuNext develops
compounds on the cutting edge of immunotherapy for cancer and
autoimmune diseases. Novel immunomodulators have been
partnered with Janssen, Roche and Sanofi.
ImmuNext currently has a clinical stage program with
VISTA, a checkpoint regulator, and pre-clinical programs focused on
the development of antibodies that target novel immuno-metabolic
proteins.
About Eli Lilly and
Company
Lilly is a global healthcare leader
that unites caring with discovery to create medicines that make
life better for people around the world. We were founded more than
a century ago by a man committed to creating high-quality medicines
that meet real needs, and today we remain true to that mission in
all our work. Across the globe, Lilly employees work to discover
and bring life-changing medicines to those who need them, improve
the understanding and management of disease, and give back to
communities through philanthropy and volunteerism. To learn more
about Lilly, please visit us at www.lilly.com and
http://newsroom.lilly.com/social-channels.
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 ImmuNext, and reflects Lilly's
current beliefs. However, as with any such undertaking, there
are substantial risks and uncertainties in the process of drug
development and commercialization. Among other things, there can be
no guarantee that Lilly will realize the expected benefits of the
collaboration, or that the collaboration will yield commercially
successful products. For a further discussion of these and other
risks and uncertainties that could cause actual results to differ
from Lilly's expectations, please see Lilly's most recent Forms
10-K and 10-Q filed with the U.S. Securities and Exchange
Commission. Lilly undertakes no duty to update forward-looking
statements.
Refer to: Mark
Taylor; mark.taylor@lilly.com; (317) 276-5795 (Lilly
Media)
Kevin Hern;
hern_kevin_r@lilly.com; (317) 277-1838 (Lilly Investors)
Gayle Gosselin;
info@immunext.com; (603) 727-4600
(ImmuNext Media)
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SOURCE Eli Lilly and Company