Lil­ly inks R&D deal with An­i­ma, pay­ing $44M in re­search fund­ing and up­front pay­ments

Eli Lil­ly $LLY is com­mis­sion­ing a small team in New Jer­sey to im­ple­ment its un­usu­al ap­proach to drug dis­cov­ery on a few of Lil­ly’s tar­gets, pay­ing out $30 mil­lion in an up­front fee plus some cash to get the re­search start­ed.

The new part­ner is An­i­ma Biotech, a tiny com­pa­ny that’s tar­get­ing dis­ease-caus­ing pro­teins way up­stream with a new class of drugs. The com­pa­ny’s co-founder and CEO Yochi Slonim de­scribes An­i­ma’s plat­form tech this way:

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