Magen BioSciences is acquiring a series of preclinical compounds from Eli Lilly for dermatology applications. The deal gives Magen exclusive, worldwide rights for the development and commercialization of these candidates.
The licensed compounds have reportedly shown anti-inflammatory and antiproliferative activities in preclinical models. These properties suggest a number of possible applications to treat common dermatological disorders.
Magen was founded just last year with headquarters in Waltham, MA, and a focus on dermatology. “This transaction marks a significant milestone in the growth of Magen to become a premier, science-based dermatology company,” remarks Brian M. Gallagher, Ph.D., president and CEO. “We will leverage the prior research done by Lilly's scientists and will dedicate our efforts to continue to advance these assets through the development process.”