Eli Lilly: enters into license agreement with Chugai

(CercleFinance.com) - Eli Lilly has entered into a license agreement with Roche's Chugai for an experimental oral drug being studied for the treatment of type-2 diabetes.


Under the terms of the agreement, Lilly will receive worldwide development and commercialisation rights to OWL833, a non-peptide GLP-1 receptor agonist currently in Phase 1 development.

In return, Chugai will receive an upfront payment of 50 million dollars and is eligible for milestone payments, based on reaching certain predetermined milestones.

If the molecule is successfully commercialized, Chugai would also be eligible for royalty payments.

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