Eli Lil­ly keeps its foot on deal­mak­ing ped­al, re­cruit­ing Car­olyn Bertozzi's pro­tein degra­da­tion tech for $1.6B+

Eli Lil­ly is stay­ing busy dur­ing the sum­mer months, wheel­ing and deal­ing its way to new deals. On Wednes­day, the Big Phar­ma sealed its lat­est col­lab­o­ra­tion with a biotech fo­cused on pro­tein degra­da­tion.

Lil­ly is plunk­ing down $35 mil­lion up­front and promis­ing an­oth­er $1.6 bil­lion-plus to South San Fran­cis­co’s Ly­cia Ther­a­peu­tics, the com­pa­nies said Wednes­day morn­ing. The deal will spur de­vel­op­ment for five new can­di­dates and ini­tial­ly fo­cus on im­munol­o­gy and pain, al­though it may ex­pand in­to oth­er dis­ease ar­eas, Ly­cia CEO Aet­na Wun Tromb­ley told End­points News.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER