LLY - Seed Therapeutics Eli Lilly in pact for protein degradation-based therapies

BeyondSpring's (BYSI) subsidiary Seed Therapeutics, has entered into a research collaboration and license agreement with Eli Lilly (LLY) to discover and develop new chemical entities for potential therapeutic benefit through targeted protein degradation.Seed Therapeutics utilizes “molecular glue” to induce the protein degrading machinery which is present in all cells to recognize and degrade the disease-causing protein that is not normally targeted for elimination.Under the terms of the agreement, Seed Therapeutics will receive $10M upfront cash payment to fund research, as well as $10M equity investment from Lilly. Seed Therapeutics is also eligible to receive up to ~$780M in milestone payments, as well as tiered sales-based royalties.

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Seed Therapeutics, Eli Lilly in pact for protein degradation-based therapies