Haisco, Lilly Strike Drug Development Deal

Haisco Pharmaceutical Group Co., Ltd. has entered a licensing and research collaboration with Eli Lilly and Company to develop innovative medicines across multiple therapeutic areas.

Under the agreement, Haisco will be responsible for the discovery and identification of up to five innovative target programs, while Lilly will lead IND-enabling studies, clinical development, and commercialization. Lilly will obtain exclusive worldwide rights to certain programs, and exclusive rights outside mainland China, Hong Kong, Macau, and Taiwan (the Haisco Territory) for certain other programs, while Haisco will retain rights within the Haisco Territory for those programs.

“This collaboration is highly aligned with our international development strategy and is expected to generate sustainable value and long-term returns,” said Dr. Pangke Yan, CEO of Haisco, “By partnering with a global biopharmaceutical leader such as Lilly, Haisco aims to accelerate the global development of innovative therapies and deliver high-quality treatment options to patients worldwide.”

This collaboration reflects the first license and research collaboration between Haisco and Lilly. By leveraging each party’s strengths in innovative drug development, the two companies aim to accelerate the global advancement of innovative therapeutics.

Haisco will be eligible to receive up to $87 million in upfront and near-term payments, up to $2,967 million in all remaining downstream milestones, as well as single-digit tiered royalties on future product sales.