Takeda-partnered Evox signs up to $1.2B pact with Lilly; New liquid biopsy company launches with $12M Series A
→ Oxford spinout Evox — one of a handful of players that are using tiny exosomes to deliver a therapeutic payload where needed, including to the brain — is acing the dealmaking game with big pharma. Just months after securing $44 million upfront in an up to $882 million deal with Takeda, the company has inked a pact with Eli Lilly focused on drugs to treat neurological disorders.
This deal is lighter upfront, and heavier on milestones: $20 million cash up-front, research funding over three years, as well as a $10 million investment from Lilly in exchange for a convertible bond. Milestone payments add up to a meaty $1.2 billion for Evox, in addition to potential royalties.
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