Issue Date: February 23, 2009
Lilly Makes Pact With Neurosearch
Eli Lilly & Co. has teamed with the Scandanavian biotech firm NeuroSearch to develop new drugs based on NeuroSearch's novel ion-channel-modulation expertise. Over the course of the three-year pact, Lilly will hand over $13 million in up-front fees and research funding and make a $17 million investment in the company. NeuroSearch will be tasked with discovering ion-channel-modulating compounds to treat central nervous system disorders, and Lilly will have the option to license those compounds in exchange for further milestone and royalty payments upon their development and commercialization.
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