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GEN News Highlights : May 23, 2011

Lilly Sets Up New Firm to Expand Sepsis Drug Xigris

BioCritica was established with U.S. license to drug and options to rights outside the country.

Eli Lilly signed agreements with private investors Care Capital and NovaQuest Capital to establish BioCritica. The new privately held biotechnology company will initially focus on the continued U.S. development and commercialization of Xigris®, Lilly's medicine for severe sepsis. The company will be based in Central Indiana.

Xigris is indicated for the reduction of mortality in adult patients with severe sepsis who have a high risk of death. It is not approved for adult patients with severe sepsis and lower risk of death.

As part of a licensing agreement, BioCritica will acquire the U.S. development and commercialization rights to Xigris and will also receive the rights to potentially acquire several critical care compounds currently in preclinical development at Lilly. The collaboration also includes a supply agreement, a services agreement, and an option for BioCritica to potentially take over the development and commercialization rights to Xigris outside the U.S. at a later date. In return, Lilly will receive royalties on future U.S. sales of Xigris and will also receive an equity stake in BioCritica.

BioCritica intends to ultimately build a portfolio of innovative, hospital-based critical care medicines. The creation of BioCritica received the support of the Indiana Economic Development Corporation and BioCrossroads, Indiana's public-private initiative to grow, advance, and invest in the life sciences.