Lilly, Immunocore enter into co-discovery and co-development collaboration to develop cancer therapies -
Eli Lilly and Company (NYSE: LLY) and Immunocore Limited announced today they have entered into a co-discovery collaboration and co-development research and potentially develop cell-based cancer therapies novel T.
immune Using monoclonal Mobilize against T-cell Receptor cancer (ImmTAC) Immunocore technology, companies will seek to use the power of the body's own immune system to attack cancer cells. ImmTACs have shown potential to direct the patient's T cells to specifically target cancer cells, avoiding damage to healthy cells.
Under the terms of the agreement, Immunocore receive an upfront payment of $ 15 million program for the discovery of new ImmTACs jointly against selected cancer targets to generate packets of pre-clinical candidates. If Lilly accepts a preclinical candidate packet to develop and potentially commercialize Immunocore receive a right to opt-in of $ 10 million and will have an option to continue joint development with Lilly on a cost-sharing basis and benefit sharing . If Immunocore exercises its option, it will be entitled to potential future payments of stage and significant royalties.
"We are very pleased to have entered into this strategic partnership with Lilly, and we look forward to working together in an integrated manner," said Eva-Lotta Allan, Chief Business Officer, Immunocore. She added ". Lilly is a leading oncology player and we are delighted to advance therapies based on novel T cells in the clinic in collaboration with them"
"the primary objective and challenge of cancer immunotherapy is to direct the immune system to recognize and destroy cancer. We believe the platform ImmTAC Immunocore has the potential to do just that, "said Jan Lundberg, Ph.D., executive vice president, Science and Technology and president, Lilly Research Laboratories." We are delighted to work closely with Immunocore to develop potential new therapies for cancer patients. "
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