Lilly inks $2B+ I-O deal with Kumquat Biosciences
US pharma major Eli Lilly’s (NYSE: LLY) Loxo Oncology unit has signed a multi-year collaboration with San Diego-based Kumquat Biosciences on the discovery, development and commercialization of potential novel small molecule that stimulate tumor-specific immune responses.
Kumquat will utilize its small molecule immuno-oncology (I-O) platform to discover novel clinical 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, subject to Lilly's option to co-commercialize in Greater China. Additionally, Kumquat has the option to co-develop and co-commercialize a certain number of the drug candidates selected by Lilly in the USA.
Terms provide $70 million upfront
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