Lilly and BioNTech join forces on novel cancer immunotherapies research; UPDATE

In a fourth cancer agreement in the past year, US Pharma major Eli Lilly (NYSE: LLY) has entered into a research collaboration to discover novel cancer immunotherapies with German biotech firm BioNTech.

Under a deal that could net BioNTech more than $360 million, the companies will seek to use the power of the body's own immune system to attack cancer cells and create possible new treatment options for cancer patients.

Leveraging the scientific expertise between the two organizations, Lilly and BioNTech will collaborate to identify and validate novel tumor targets and their corresponding T cell receptors (TCRs) in one or more types of cancer. These tumor targets and TCRs may then be engineered and developed into potent and selective cancer therapies.