- Eli Lilly (LLY -0.2%) and Lyon, France-based Adocia enter into a worldwide licensing collaboration to develop an ultra-rapid insulin, known as BioChaperone Lispro, for the treatment of type 1 and 2 diabetes. The product, currently in Phase 1b, utilizes Adocia's proprietary BioChaperone technology.
- Under the terms of the agreement, Adocia will receive an upfront payment of $50M, up to $280M in potential development and regulatory milestones and up to $240M in sales milestones. Lilly is responsible for the future development, manufacturing and commercialization of BioChaperone Lispro and will reimburse Adocia for certain R&D expenses during the term of the contract.
- The French firm retains the right to develop and license its insulin programs unrelated to prandial ultra-rapid insulin.