Abbisko Cayman (HKG:2256) expanded its collaboration with Eli Lilly through a new research and licensing agreement covering multiple drug targets, according to a Wednesday Hong Kong bourse filing.
Under the agreement, Abbisko will receive an upfront payment and is eligible for development, regulatory, and commercial milestone payments totaling up to about $1.9 billion, along with tiered royalties on future product sales.
The company will conduct drug discovery and early-stage development activities for therapeutic programs selected by Lilly, leveraging its discovery platform and research capabilities.
The agreement follows a 2022 collaboration between the companies focused on the discovery, development, and potential commercialization of a novel small-molecule therapy.