October 6, 2008
Lilly Signs Licensing and Collaboration Agreement With Deciphera
Eli Lilly and Company and Deciphera Pharmaceuticals have signed a collaboration and worldwide licensing agreement related to Deciphera's preclinical B-Raf kinase inhibitor program for the study of potential oncology therapeutics.
Under the terms of the agreement, Lilly and Deciphera will collaborate in four different project areas involving selective or multi-kinase targeted B-Raf inhibitors. Lilly will obtain exclusive worldwide rights to any products developed as part of this collaboration.In return, Deciphera will receive an upfront payment and research funding over the next two years from Lilly, and may also receive up to $130 million in potential development, regulatory and sales milestones for each of the four project areas. If a product is successfully commercialized from this collaboration, Deciphera will be entitled to royalties on sales.
The collaboration will apply Deciphera's phylomechanics discovery platform, a unique, proprietary approach to kinase inhibitor design, together with Lilly's expertise in discovery, development and commercialization to pursue first-in-class and best-in-class drug candidates for a variety of cancers.
William Chin, vice president of discovery research and clinical investigation at Lilly, said: "This collaboration is further evidence of Lilly's ongoing commitment to oncology research. We look forward to working with Deciphera to leverage their B-Raf kinase inhibitor program, with the ultimate goal of developing promising drug candidates for cancer patients."