Chugai inks antibody engineering technologies with US pharma major

15 May 2020

Japanese drugmaker Chugai Pharmaceutical (TYO:4519) saw its shares close up a modest 1% today as it revealed the signing of a license agreement with US major Eli Lilly (NYSE: LLY) that could lead to the creation of an antibody against COVID-19.

Under the terms of deal, Lilly will receive the rights to use Chugai’s antibody engineering technologies for their research activities to develop next-generation COVID-19 treatments and the rights for the development and marketing of therapeutic antibodies applying the technologies. No financial terms of the collaboration were revealed by Lilly or Chugai, which is majority-owned by Swiss giant Roche (ROG: SIX).

“Healthcare related companies are collaborating to develop therapeutic agents and vaccines against COVID-19, which has been affecting many people’s health and daily life and also the economy and society. The need to accelerate this development is essential,” said Dr Osamu Okuda, Chugai’s president and chief operating officer.

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