PRISM BioLab announced that it has entered into a License and Collaboration Agreement with Eli Lilly and Company. Under the agreement, PRISM and Lilly will collaborate to discover small molecule inhibitors of a PPI target selected by Lilly utilizing PRISM’s proprietary PepMetics( technology. Lilly has the option to add up to two more targets to the collaboration and is responsible for the clinical development and commercialization of resulting products. PRISM will receive upfront payments and is eligible to receive up to $660M in pre-clinical, clinical and commercial development milestones payments, as well as royalties on product sales.
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