TLPPF - Eli Lilly inks licensing deal for cancer therapy with Australian biotech Telix

Australia-based Telix Pharmaceuticals (OTCPK:TLPPF) announced a license agreement with Eli Lilly (NYSE:LLY) on Monday for olaratumab, a cancer therapy sold under the brand name Lartruv. Per the terms, Telix gets exclusive worldwide rights to develop and commercialize the radiolabelled forms of olaratumab for the diagnosis and treatment of cancers with an initial focus on soft tissue sarcoma (STS). In return, Telix will pay Lilly (LLY) an upfront payment of US$5M (~AU$6.7M) and up to US$225M (~AU$301M) in milestone payments in addition to royalties on net sales. The agreement also includes an option for an exclusive license to a radiolabelled companion diagnostic to be developed by Telix in return for a payment of US$5M (~AU$6.7M) and development milestones worth US$30M (~AU$40.1M) in addition to royalties. In 2016, the FDA greenlighted the monoclonal antibody olaratumab in combination with doxorubicin for certain patients with STS.

For further details see:

Eli Lilly inks licensing deal for cancer therapy with Australian biotech Telix