Eli Lilly and CompanyAcquires Alzheimer's drug candidate and enters ion channel collaboration, boosting pipeline.
Eli Lilly shares rose 3.6% to close at $1,227 after the company announced two deals, acquiring rights to a preclinical Alzheimer's drug and entering a collaboration for an ion channel program. The company acquired global rights to AlzeCure Pharma's Alzheimer's drug candidate ACD680 for an upfront payment of $10 million, with the agreement potentially exceeding $1 billion in total value through future development and commercial milestone payments plus mid-single-digit royalties on sales. In a separate agreement, Eli Lilly entered a global collaboration with OmniAb for a new ion channel program, under which OmniAb will receive an upfront payment and is eligible for up to $370 million in milestone payments along with tiered royalties on global net sales. The deals are expected to help Lilly reload its early-stage pipeline while protecting near-term margins and building a fortified multi-mechanism moat around its Alzheimer's franchise.
Eli Lilly and CompanyAcquires Alzheimer's drug candidate and enters ion channel collaboration, boosting pipeline.
OmniAb Inc.Receives upfront and milestone payments up to $370M in collaboration with Lilly.
Receives $10M upfront and potential $1B in milestones for Alzheimer's drug rights.