On January 6, 2022 Eli Lilly and Company (NYSE: LLY) reported that has acquired exclusive rights to Entos Pharmaceuticals’ Fusogenix nucleic acid delivery technology to research, develop and commercialize nucleic acid products targeting the central and peripheral nervous system (Press release, Eli Lilly, JAN 6, 2022, View Source [SID1234598320]). This technology provides an opportunity for Lilly to access a novel delivery platform technology with the potential to solve a key delivery challenge for many nucleic acid therapeutic modalities.
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Under the terms of the research and collaboration agreement, Lilly and Entos have agreed to multiple programs focused on the development of proteo-lipid vehicles (PLV) for delivery of therapeutic cargo supplied by Lilly to targets in the central and peripheral nervous systems. Entos will be responsible for the generation, development and optimization of PLVs using its proprietary Fusogenix platform technology. Lilly will be responsible for selecting PLVs for clinical development and commercialization. Entos will receive an initial payment of $50 million, which includes an equity investment by Lilly in Entos. For each of the programs under the collaboration, Entos is also eligible to receive up to $400million in potential developmental and commercial milestone payments, as well as royalties upon the successful development and commercialization of products.
"Nucleic acid-based therapies hold great promise in addressing the biologic cause of many serious diseases that have significant unmet medical need," said Andrew Adams, vice president, Lilly Genetic Medicine. "Overcoming barriers to the safe and effective delivery of such therapies to specific target cells is essential to realizing their potential. We look forward to working with Entos as part of our efforts to overcome this challenge and develop potential new therapies that may improve patient outcomes."
"For more than 145 years, Lilly has demonstrated its ability to incorporate cutting-edge scientific advances into drug development strategies," said John Lewis, Ph.D., founder and CEO of Entos. "We are excited for the opportunity to play a part in Lilly’s ongoing quest to develop high-quality medicines and believe our collaboration with Lilly is an important validation of the potential value of our expertise and technology platform."
This transaction will be reflected in Lilly’s reported results and financial guidance according to Generally Accepted Accounting Principles (GAAP). There will be no change to Lilly’s 2021 or 2022 non-GAAP earnings per share guidance as a result of this transaction.