TRex Bio inks billion-dollar-plus deal with Lilly

10 January 2023

California, USA-based biotech TRex Bio (NYSE: TREX) closed up 1.7% at $46.71 yesterday, after it announced a multi-year research collaboration and exclusive worldwide license agreement with US pharma major Eli Lilly (NYSE: LLY) to develop novel therapies for the treatment of immune-mediated diseases.

This agreement builds on a previous collaboration with Lilly. The deal also adds to TRex Bio’s a multi-year research collaboration and licensing agreement with Janssen Pharmaceutica, a part of US healthcare giant Johnson & Johnson (NYSE: JNJ), signed early last year, in exchange for an undisclosed upfront payment, option fees, milestones and royalties.

Terms of the deal

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