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news.NPIL Research & Development Limited or NRDL, and Eli Lilly and Company have signed a second new drug development agreement to develop and, in certain regions, commercialize a select group of Lilly's pre-clinical drug candidates that span multiple therapeutic areas.
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In this new agreement, both NRDL and Lilly will independently carry out early clinical development of two different candidate compounds directed against the same target. Following the evaluation of the data from the proof-of-concept studies, one or more of the drug candidates may be selected for further development. NRDL’s compensation, based on a pre-agreed formula, could total up to $110 million in call-back payments and milestones, plus royalties on sales.
Somesh Sharma, CEO of NRDL, said: “We are indeed pleased that Lilly has chosen to partner with us another of their lead compounds for pre-clinical and clinical development. It not only strengthens our pipeline of products, but also confirms our capabilities for discovering and developing drugs for worldwide markets.”