Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowDenmark-based NeuroSearch has signed an agreement with Indianapolis-based Eli Lilly and Co. to form a three-year drug discovery and development alliance to investigate treatments for central nervous system disorders.
Lilly will spend $30 million in the next three years on the alliance. Of that amount, Lilly will pay $17 million to buy NeuroSearch stock, according to a statement on NeuroSearch’s Web site.
NeuroSearch will be responsible for the drug discovery programs and potentially early development of experimental drugs. If Lilly chooses to license any of the drugs, it will be responsible for all subsequent development and commercialization activities.
If any drugs are brought to market, Lilly might have to pay NeuroSearch as much as $320 million in fees along the way and share royalties on worldwide sales.
“The equity stake we are taking in NeuroSearch is also an excellent example of our corporate strategy as a fully integrated pharmaceutical network, where we are collaborating with researchers beyond our walls to deliver improved outcomes to individual patients,” said Dr. William Chin, Lilly’s vice president of discovery research and clinical investigation, in a statement.
Please enable JavaScript to view this content.