Welcome to the latest edition of our weekly EuroBiotech Report. We start this week with Sitryx, an Oxford, U.K.-based biotech that landed a deal with Eli Lilly. Sitryx granted Lilly rights to up to four preclinical autoimmune assets in return for $50 million upfront and many times as much in milestones. Elsewhere, COVID-19 dominated the headlines. Genfit told investors that it does not expect the COVID-19 pandemic to “significantly delay” the unblinding of its phase 3 nonalcoholic steatohepatitis data. Gilead began to test its antiviral remdesivir in the U.K. The NIHR Clinical Research Network, a major U.K. biomedical body, shut down in response to COVID-19 And more. — Nick Taylor
1. Lilly pays Sitryx $50M upfront for preclinical autoimmune assets
Eli Lilly has paid Sitryx $50 million (€46 million) upfront for global rights to up to four autoimmune drugs. The deal sees Lilly commit to up to $820 million in development milestones for the chance to work with Sitryx on drugs that manipulate intracellular metabolic pathways.
2. COVID-19 not expected to 'significantly delay' Genfit's phase 3 NASH readout
Genfit has told investors that it does not expect the COVID-19 pandemic to “significantly delay” the unblinding of its phase 3 nonalcoholic steatohepatitis data. The database was locked at the end of February but will only be unblinded after the FDA has provided feedback.
3. As U.K.'s coronavirus toll surges, Gilead kick-starts remdesivir trials across the country
With Prime Minister Boris Johnson infected and isolated in Downing Street and other top officials similarly afflicted with COVID-19, the U.K. is joining in the testing for Gilead Sciences' much-hyped antiviral candidate remdesivir.
4. U.K. government-backed medical research shut down amid COVID-19
The U.K.’s major biomedical body, the NIHR Clinical Research Network, is shutting down in the midst of the growing COVID-19 epidemic in the country.
And more articles of note>>