Eli Lilly forges $1B diabetes deal

Eli Lilly is putting down a $41 million payment to acquire exclusive rights to MacroGenics' diabetes drug teplizumab in a deal that could be worth more than a billion dollars in total. MacroGenics [1] also gets a $10 million financing arrangement, up to $200 million in development milestones for diabetes, sales milestones of $250 million and up to $600 million for other approvals of molecules developed by the two companies. For MacroGenics, the deal with Lilly marks a key turning point as it develops new therapies for cancer, autoimmune diseases and infectious diseases. Teplizumab is its lead therapy and marks Eli Lilly's continued interest in acquiring more biotech drugs for development.

"The additional capital brought into the company will give us the ability to expand our portfolio and work in other areas," MacroGenics chief executive Dr. Scott Koenig told the Baltimore Sun said in an interview.

- take a look at the release [2] on the deal
- read the Baltimore Sun's report [3]

Related Articles:
Lilly diabetes med linked to pancreatitis. Report [4]
MacroGenics garners $45M in third round. Report [1]
In speech, Lilly CEO calls for drug monitoring. Report [5]
Lilly developing biotech drugs the old-fashioned way. Report [6]
Diabetes epidemic triggers soaring drug market. Report [7]

Read more on: Eli Lilly [8] | Diabetes [9]