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news.Eli Lilly and Company has exercised its option to develop one or more therapeutic proteins created by biopharmaceutical firm Xencor under a collaboration between the two companies.
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Xencor used its proprietary protein design automation (PDA) technology to optimize the physical and biochemical properties of an undisclosed therapeutic protein. In less than 12 months, Xencor created variants of the protein that satisfied specific pre-set criteria.
Under the terms of the agreement, Xencor granted to Lilly an exclusive, worldwide license to develop and commercialize certain therapeutic proteins derived from the collaboration. Xencor will receive an upfront license fee and is eligible to receive milestone payments in the event Lilly advances one or more candidates into development, as well as royalties on sales of licensed products.
“We are delighted that Lilly has licensed the protein variants and associated technology for further development,” said Bassil Dahiyat, president and CEO of Xencor. “The license grant to Lilly furthers our strategy to build a broad pipeline of optimized protein drugs internally and with strategic partners.”