PRISM BioLab, Co. Ltd., a discovery and development biotechnology company designing small molecule inhibitors of protein-protein interaction (PPI) targets, has entered into a license and collaboration agreement with Eli Lilly and Co.
 
PRISM and Lilly will collaborate to discover small molecule inhibitors of a PPI target selected by Lilly utilizing PRISM’s PepMetics technology. Lilly has the option to add up to two more targets and is responsible for clinical development and commercialization of resulting products. PRISM will receive upfront payments and is eligible to receive up to $660 million in preclinical, clinical and commercial development milestones, as well as royalties on product sales.
 
“We are very excited to enter into this collaboration with Lilly as we apply our technology to expand the field of drug discovery into a novel approach to drug the PPI targets,” said Dai Takehara, President and Chief Executive Officer of PRISM Biolab. “Our PepMetics technology holds promise to change the current paradigm in drug discovery by turning previously undruggable PPIs into targets readily druggable with small molecules.”