Lilly buys back CGRP antibody for migraine prevention from Arteaus Therapeutics

13 January 2014

Based on positive Phase II data, US drug major Eli Lilly (NYSE: LLY) has acquired all development rights for a calcitonin gene-related peptide (CGRP) antibody currently being studied as a potential treatment for the prevention of frequent, recurrent migraine headaches.

This novel molecule (LY2951742) was discovered by Lilly scientists and then licensed to Arteaus Therapeutics for development in the clinical proof-of-concept study. Financial terms of the deal were not disclosed.

Arteaus was formed in 2011 with an $18 million investment from Atlas Venture and OrbiMed, upon acquiring the rights to develop Lilly's CGRP antibody. Licensing Lilly's CGRP antibody to Arteaus was part of Lilly's alternative risk-sharing strategy, which includes participation in the Capital Funds Portfolio. The accord meant that, if the molecule shows efficacy, the molecule and/or development rights are offered for sale to biopharmaceutical companies.

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