Wednesday, November 29, 2023
PRISM Biolab, Co. Ltd. ("PRISM"), a prominent biotechnology company specializing in the development of small molecule inhibitors for protein-protein interaction (PPI) targets, has officially announced a License and Collaboration Agreement with Eli Lilly and Company ("Lilly").
In this partnership, PRISM and Lilly will join forces to identify small molecule inhibitors for a PPI target chosen by Lilly, leveraging PRISM's exclusive PepMetics® technology. Additionally, Lilly has the option to introduce up to two more targets to the collaboration and will take on the responsibilities for the clinical development and commercialization of any resulting products. PRISM is set to receive upfront payments and stands to earn up to $660 million in milestone payments throughout the pre-clinical, clinical, and commercial development phases, along with royalties on the sales of the products.
Dai Takehara, President and CEO of PRISM Biolab, expressed enthusiasm about the collaboration, stating, "We are very excited to partner with Lilly to apply our technology in expanding the horizons of drug discovery through a unique approach to targeting PPIs. Our PepMetics® technology has the potential to revolutionize drug discovery by making previously 'undruggable' PPIs accessible for small molecule targeting. This collaboration with Lilly, a pioneering global pharmaceutical company, positions us to actualize this vision and broaden the range of druggable targets for the benefit of patients."
Source: prnewswire.com
