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February 17, 2009

NeuroSearch and Eli Lilly Sign Pact for Drug R&D in CNS Diseases

  • NeuroSearch and Eli Lilly inked a three-year partnership focusing on CNS disorders. NeuroSearch will receive $5 million up front, and Lilly will make a $17 million equity investment in the firm.

    The aim is to discover and develop medicines based on novel approaches to specific ion channel modulation. NeuroSearch will be responsible for discovery programs and potentially early development.

    The firm will receive $8 million to support research over the next three years. Additionally, for each product successfully developed and commercialized under the alliance, NeuroSearch is entitled to milestone payments of up to $320 million plus royalties on the product’s global sales.

    Lilly has various options to exercise license rights to individual compounds covered by the agreement and related intellectual property. Upon exercise of license rights, Lilly will be responsible for all subsequent development and commercialization activities.



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