Lilly & Hanmi Ink US$690 Million Deal

Eli Lilly has acquired Hanmi’s BTK inhibitor HM71224, a small molecule soon to enter Phase II trials for autoimmune diseases.

AsianScientist (Mar. 26, 2015) – Eli Lilly and Company and Hanmi Pharmaceutical Co., Ltd. have entered into an exclusive license and collaboration agreement for the development and commercialization of Hanmi’s oral Bruton’s tyrosine kinase (BTK) inhibitor, HM71224, for the treatment of autoimmune and other diseases.

This small molecule is ready to enter Phase II and the parties plan to investigate the molecule for the potential treatment of rheumatoid arthritis, lupus, lupus nephritis, Sjögren’s syndrome and other related conditions.

“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. Lee Gwan Sun, CEO/President of Hanmi Pharmaceutical.

Under the terms of the agreement, Lilly will receive worldwide rights to the molecule for all indications excluding China, Hong Kong, Taiwan, and Korea. Lilly will take development, regulatory, manufacturing, and commercial leadership for the molecule in the Lilly territories. Hanmi will receive an initial payment of US$50 million and is eligible for up to US$640 million in potential development, regulatory, and sales milestones.

The agreement is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, similar requirements outside the US, and other customary closing conditions. If the BTK inhibitor is successfully commercialized, Hanmi would also be eligible for tiered double-digit royalty payments.

—–

Source: Eli Lilly.
Disclaimer: This article does not necessarily reflect the views of AsianScientist or its staff.

Asian Scientist Magazine is an award-winning science and technology magazine that highlights R&D news stories from Asia to a global audience. The magazine is published by Singapore-headquartered Wildtype Media Group.

Related Stories from Asian Scientist