The drug candidate, known as LY2275796, targets eIF-4E, a protein that is increased in a variety of cancers, including breast, head and neck, prostate, lung, bladder, colon, thyroid and non-Hodgkin’s lymphomas.
The advancement of the drug into phase I development triggers a $750,000 payment from Lilly to Isis for the completion of this milestone.
In addition, Lilly is funding the development of LY2275796 and will make additional payments on the achievement of certain development and regulatory milestones, and royalties on product sales to Isis.
“eIF-4E is a drug target that oncologists believe may play a key role in initiating and maintaining various cancers, yet considered ‘undruggable’ with traditional drug discovery technologies,” said Dr C Frank Bennett, senior vice president, antisense Research at Isis.