PeptiDream Announces New Research and Collaboration Agreement with Lilly for the Discovery of Novel Peptide Drug Conjugates
KANAGAWA, Japan--(BUSINESS WIRE)--PeptiDream Inc., a public Kanagawa, Japan-based biopharmaceutical company (President: Patrick C. Reid, hereinafter “PeptiDream”)(Tokyo: 4587) today announced that they have entered into a Research Collaboration and License Agreement with US-based Eli Lilly and Company (Lilly) focused on the discovery and development of novel peptide drug conjugates (“PDCs”).
Under the agreement, PeptiDream will utilize its proprietary Peptide Discovery Platform System (“PDPS”) technology to identify high affinity macrocyclic peptide ligands to Lilly-elected targets of interest, capable of delivering a Lilly conjugated payload to certain cells and tissues of interest to Lilly. PeptiDream will lead peptide discovery and optimization efforts, and Lilly will lead payload discovery and optimization efforts. Lilly will be responsible for all development aspects of any PDC products arising from the collaboration.
The new Research Collaboration and License Agreement builds upon the long collaborative relationship between the Companies, with the first Collaboration and License Agreement in December 2013, followed by the nonexclusive license of PeptiDream’s proprietary PDPS technology in March 2016, which specifically excluded work on PDC programs.
Under the terms of the agreement, PeptiDream will receive an upfront payment from Lilly as well as be eligible for payments based on the achievement of specified development, regulatory, and commercial milestones potentially totaling up to $1.235 billion (¥163billion*1). In addition, PeptiDream is eligible to receive royalties on net sales of any such products.
“I am delighted to announce this collaboration with Lilly and greatly look forward to utilizing our peptide discovery and optimization capabilities to generate peptide ligands capable of delivering Lilly payloads to specific cells and tissues to develop novel and innovative PDC therapeutics to treat disease. This collaboration builds upon our efforts in the PDC space and will allow us to further expand our pipeline of innovative PDC therapeutics” said Patrick C. Reid PhD, President & CEO of PeptiDream.
*1: USD/JPY currency conversion rate: 132
About PeptiDream Inc.
PeptiDream Inc. (Tokyo Stock Exchange Prime Market 4587) is leading the translation of macrocyclic peptides into a whole new class of innovative medicines to address unmet medical needs and improve the quality of life of patients worldwide. Founded in 2006, PeptiDream employs its proprietary Peptide Discovery Platform System (PDPS) technology, a state-of-the-art highly versatile discovery platform which enables the production of highly diverse (trillions) non-standard peptide libraries with high efficiency, for the identification of highly potent and selective macrocyclic peptide candidates, which then can be developed into peptide-based, small molecule-based, or peptide-drug conjugate (PDC)-based therapeutics and diagnostics. PeptiDream has an extensive global network of discovery and development partners driving the development and commercialization of a broad and diversified pipeline of investigational therapeutics. PeptiDream also markets and sells a number of radiopharmaceutical and radiodiagnostic products in Japan, through its wholly owned subsidiary, PDRadiopharma. PeptiDream is headquartered in Kawasaki, Japan. For more information about our company, science and pipeline, please visit www.peptidream.com.
PR Source:- Businesswire