Eli Lilly signs drug discovery collaboration with Evotec in a deal valued up to $5B
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Evotec announced it entered a drug discovery collaboration with Eli Lilly (NYSE:LLY) to target metabolic diseases with a focus on kidney diseases and diabetes. The partnership valued at up to $1B will initially run for three years.

Per the terms, the U.S. pharma giant will hold the rights to select up to five programs from the collaboration for subsequent development and commercialization. Evotec will be responsible for the discovery of drug candidates from the targets identified by the company or Eli Lilly (LLY).
In return, the German biotech will be entitled to an undisclosed upfront payment in addition to milestone payments worth up to $180M per program, as well as royalties on net sales from the potential products.
Read why Eli Lilly (LLY) shares came under pressure last week when Biogen (NASDAQ:BIIB) suffered a setback in Medicare coverage for its newly approved Alzheimerâs therapy.