Eli Lilly picks up an oral GLP-1 diabetes drug from a big Roche sub for $50M in cash-plus deal — and it’s not a peptide
Eli Lilly has gone shopping for its next GLP-1 diabetes drug at a big Roche subsidiary — and this time we’re not talking about Genentech.
Tokyo-based Chugai Pharmaceutical is handing over global rights to OWL833, an oral, non-peptide GLP-1 receptor agonist that has been put through a preclinical program and is aimed straight at a Phase I study.
To get it, Eli Lilly handed over a $50 million upfront, not a small amount for a preclinical drug asset, and signed off on a set of milestones that were not disclosed but likely add up to quite a bit — if they go the distance.
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