Eli Lilly and Co. (NYSE: LLY) is today releasing detailed results of a once-promising Alzheimer’s disease treatment and announcing a partnership on another potential treatment of the disease. As a result of shelving solanezumab, Lilly said last week it plans to cut some of its work force. The codevelopment agreement with AstraZeneca PLC (NYSE: AZN) involves an antibody currently in Phase 1 trials.
The pharmaceutical makers say the collaboration builds on an existing relationship related to another drug currently in two late-stage trials.
Lilly says the hope is that MEDI1814 could slow the progression of Alzheimer’s Disease when it binds with a peptide in the brain linked to the disease. Lilly Research Laboratories President Jan Lundberg says "we are pleased to be expanding our alliance with AstraZeneca to further build our pipeline of potential medicines and diagnostic agents. AstraZeneca brings capabilities and expertise and most importantly shares our passion to bring new medicines to patients suffering from this debilitating illness."
Lilly will pay AstraZeneca $30 million upfront under the arrangement.
At the global Clinical Trials on Alzheimer’s Disease meeting Thursday in San Diego, Lilly presented results of its late-stage trial of solanezumab. The company will no longer pursue regulatory approval for the drug that had shown potential in previous development stages to treat mild dementia caused by Alzheimer’s Disease. Distinguished Medical Fellow Eric Siemers said "the results of EXPEDTION3 are without question disappointing. However, Lilly remains committed to finding solutions for this devastating disease. We will continue to analyze study results and work with the external scientific community in the hopes of uncovering findings that will help shape and advance future Alzheimer’s disease research."