Eli Lilly has expanded its relationship with Shanghai-based Abbisko Therapeutics in a new multi-target drug discovery and licensing deal worth up to $1.9 billion in potential milestone and royalty payments. Under the agreement, Abbisko will use its early-stage discovery engine and R&D platform to discover and conduct early development on small-molecule drug candidates against multiple targets chosen by Lilly, primarily in oncology and other therapeutic areas. Lilly will pay an undisclosed upfront fee to Abbisko and up to $1.9 billion in development, regulatory, and commercialization milestone payments, plus tiered royalties on annual net sales of any resulting products that reach the market. This collaboration builds on a prior 2022 partnership between the two companies on a small-molecule program for cardiometabolic disease and represents a strategic move by Lilly to leverage fast early‑stage development in China to expand its global pipeline. Abbisko’s shares rose about 4...
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