Applied NeuroSolutions has reached an agreement with Eli Lilly to increase the scope of its drug discovery collaboration. In addition to the financial terms from the original collaboration agreement with Lilly announced in 2006, Applied NeuroSolutions will receive an up-front cash payment of $750,000 and may receive up to $25.5m based on achievement of identified milestones.
Reportedly, the royalties would be paid to Applied NeuroSolutions for any AD therapies brought to market that result from this addition to the original collaboration agreement.
Craig Taylor, president and CEO of Applied NeuroSolutions, said: “We are expanding our collaboration with Eli Lilly focused on the development of new treatments for patients suffering from Alzheimer’s disease.
“Lilly continues to see the value in collaborating with Applied NeuroSolutions and our founding scientist, Dr Peter Davies. In total, our collaboration has the potential to produce multiple drug candidates, each targeting unique mechanisms.”
Michael Hutton, chief scientific officer of neurodegeneration drug hunting team at Lilly, said: “APNS has developed valuable reagents for understanding tau biology. We look forward to utilising these tools, along with Professor Davies’ expertise, to accelerate development of therapies that target tau in Alzheimer’s disease.”