Lilly, Kumquat Biosciences Team Up To Discover, Develop Immuno-Oncology Candidates

  • Loxo Oncology, a unit of Eli Lilly And Co LLY, and Kumquat Biosciences have announced an exclusive collaboration to discover, develop, and commercialize potential novel small molecules that stimulate tumor-specific immune responses.
  • Through the multi-year collaboration, Kumquat will utilize its small molecule immuno-oncology (IO) platform to discover the candidates, and Lilly has the option to select a certain number of drug candidates for further development and commercialization worldwide, excluding Greater China. 
  • Kumquat has retained development and commercialization rights in Greater China for each of the drug candidates selected by Lilly.
  • Additionally, Kumquat has the option to co-develop and co-commercialize a certain number of the drug candidates selected by Lilly in the U.S.
  • Kumquat will receive $70 million consisting of a cash upfront payment and an equity investment. 
  • It is also eligible to receive over $2 billion in potential milestone payments.
  • Price Action: LLY shares closed at $246.51 on Wednesday.

Posted In: BriefsBiotechNewsHealth CareContractsGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.