Eli Lilly, PeptiDream ink pact for discovery of novel Peptide Drug Conjugates

Under the agreement, PeptiDream will utilize its proprietary Peptide Discovery Platform System ("PDPS") technology to identify high affinity macrocyclic peptide ligands to Lilly-elected targets of interest, capable of delivering a Lilly conjugated payload to certain cells and tissues of interest to Lilly. PeptiDream will lead peptide discovery and optimization efforts, and Lilly will lead payload discovery and optimization efforts. Lilly will be responsible for all development aspects of any PDC products arising from the collaboration.

The new Research Collaboration and License Agreement builds upon the long collaborative relationship between the Companies, with the first Collaboration and License Agreement in December 2013, followed by the nonexclusive license of PeptiDream's proprietary PDPS technology in March 2016, which specifically excluded work on PDC programs.

Under the terms of the agreement, PeptiDream will receive an upfront payment from Lilly as well as be eligible for payments based on the achievement of specified development, regulatory, and commercial milestones potentially totaling up to $1.235 billion (¥163 billion). In addition, PeptiDream is eligible to receive royalties on net sales of any such products.

"I am delighted to announce this collaboration with Lilly and greatly look forward to utilizing our peptide discovery and optimization capabilities to generate peptide ligands capable of delivering Lilly payloads to specific cells and tissues to develop novel and innovative PDC therapeutics to treat disease. This collaboration builds upon our efforts in the PDC space and will allow us to further expand our pipeline of innovative PDC therapeutics" said Patrick C. Reid PhD, President & CEO of PeptiDream.