Sector News

Anima, Eli Lilly pen $1B-plus biobucks research pact

July 24, 2018
Life sciences

Little-known private biotech Anima Biotech has signed a deal with Eli Lilly potentially worth more than $1 billion in biobucks as the pair seeks to work on the biotech’s translation inhibitors.

Caveats always abound on such deals with high numbers, as the vast majority of that big figure is backloaded; upfront, Anima sees just $30 million, with $14 million for R&D.

It could get $1.05 billion “if all future development and commercial milestones are achieved,” which, as ever, is a big if in this industry. Still, not a bad day’s work for a very early-stage biotech.

Anima is focused on a new class of drugs that specifically control protein translation as a strategy against hard and undruggable targets.

The biotech and Lilly will seek out translation inhibitors for several target proteins by using Anima’s translation control therapeutics platform.

No more clinical detail was present in the pair’s release, except to say that the pact, which is ongoing for the next few years, is “structured as an exclusive collaboration around several undisclosed Lilly targets.”

For its part, Anima will use its tech platform to discover lead candidates that are translation inhibitors of the Lilly targets. Lilly, in turn, will be responsible for clinical development and selling any products coming out of the collaboration.

Yochi Slonim, Anima Biotech’s co-founder and CEO, said: “We are excited to collaborate with Lilly in the discovery of new drugs for some of the world’s most challenging diseases. Small molecule drugs work by binding to disease-causing proteins to modify their chemical activity, but most proteins lack accessible binding sites, and as result, many diseases remain without effective treatments.

“Anima’s Translation Control Therapeutics platform is a new strategy against these undruggable target proteins. Rather than attempt to drug them after they are already made, we discover drugs that work one step before, by inhibiting (decreasing) or increasing the actual production by ribosomes of those proteins. This different approach is based on our novel science and patented technology and we believe it can lead to many new drugs.”

By Ben Adams

Source: Fierce Biotech

comments closed

Related News

April 14, 2024

Bayer taps new North America marketing chief for consumer health division

Life sciences

Avivi joins Bayer fresh off a yearlong stint as chief marketing officer of Advance Auto Parts, which followed about three years spent as marketing chief of another auto parts company, Tenneco. Rounding out her nearly 30-year career in marketing are leadership roles at consumer goods giants Kimberly-Clark and Procter & Gamble.

April 14, 2024

Air Liquide acquires healthcare businesses in Belgium and the Netherlands

Life sciences

Air Liquide S.A. (Paris) is continuing its development with the acquisition of Homecare activities in Belgium and the Netherlands. The two entities acquired in Belgium and the Netherlands support 10,000 patients living with respiratory insufficiency, sleep apnea syndrome or requiring infusion or nutrition treatments.

April 14, 2024

Vertex to acquire Alpine Immune Sciences for $4.9 billion

Life sciences

US-based Vertex Pharmaceuticals has agreed to pay approximately $4.9 billion in cash to acquire Alpine Immune Sciences, a compatriot biotechnology company focused on discovering and developing innovative, protein-based immunotherapies.

How can we help you?

We're easy to reach