Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced a collaboration agreement with Germany-based CureVac AG. Lilly says the deal focuses on the development and commercialization of up to five potential cancer vaccines.
The collaboration will be based on CureVac’s proprietary RNActive technology. Lilly says CureVac will receive an upfront payment of $50 million and an equity investment of €45 million. CureVac will also be eligible to receive more than $1.7 billion in development and commercialization milestones if all five vaccines are successfully developed.
Greg Plowman, vice president of oncology research and Lilly, says the vaccines they are looking to develop could "potentially be the next frontier of cancer medicines."
Per the terms of the agreement, Lilly will be responsible for target identification, clinical development and commercialization of the vaccines. CureVac will be responsible for the design, formulation and manufacturing of clinical supply. The company will also have the option to co-promote the vaccines in Germany.
Lilly says the collaboration remains subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. You can learn more about the deal by clicking here.