Eli Lilly inks deal with Hanmi Pharmaceutical to develop experimental immunological therapy

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WASHINGTON - March 19, 2015 - PRLog -- Eli Lilly has entered into an exclusive license agreement with Hanmi Pharmaceutical Co., Ltd. to develop and commercialize Hanmi's oral Bruton's tyrosine kinase (BTK) inhibitor, HM71224, for the treatment of autoimmune and other diseases. In accordance with the terms and agreement, Lilly will make an initial upfront payment of $50 million to Hanmi plus up to $640 million based on development, regulatory, and sales milestones . Lilly will be responsible for the development, manufacturing and commercialization of the molecule and retain worldwide rights to the inhibitor excluding China, Hong Kong, Taiwan, and Korea .

The molecule is ready to enter Phase II clinical trials to investigate its ability to treat rheumatoid arthritis, lupus, lupus nephritis, Sjögren's syndrome, and other related conditions. Thomas Bumol, Ph.D., senior vice president, biotechnology and immunology research at Lilly stated,  "Lilly is committed to changing patient expectations in some of the world's most debilitating disease areas, and we're building a portfolio of potential advances in immunology through our own research and key collaborations such as with Hanmi. We're highly encouraged by the potential of HM71224 to deliver an innovative, first-in-class treatment option."

"HM71224 is a potent and effective BTK inhibitor and has successfully demonstrated proof of mechanism in preclinical studies and a Phase I study in Europe," said Dr. Gwan Sun Lee, CEO/President of Hanmi Pharmaceutical. He continued, "We are very pleased to be collaborating with Lilly on HM71224, and through this agreement and R&D collaborations, we are excited to drive the joint project forward with the ultimate aim to offer new medical treatment options to patients with autoimmune disorders and related conditions."

This transaction is subject to close under the Hart-Scott-Rodino Antitrust Improvements Act.

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