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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