Northerner
Admin (Retired)
- Relationship to Diabetes
- Type 1
DUBLIN – Eighteen months after terminating its interest in Adocia SA’s Biochaperone technology, Eli Lilly and Co. is paying $50 million up front to get it back, and it could hand over another $520 million in development, regulatory and commercial milestones linked to the progress of Adocia’s ultra-fast-acting insulin formulation, Biochaperone Lispro. Adocia will also receive research funding and tiered royalties on eventual product sales.
It’s an expensive error for Indianapolis-based Lilly and complete vindication for Lyon, France-based Adocia. The companies’ previous alliance, which they entered in 2011, involved an up-front payment of $10 million with up to $155 million more to come in milestones. However, Lilly decided to exit that deal in July last year, just before the first milestone payment was due. (See BioWorld Today, July 31, 2013.)
http://www.bioworld.com/content/sweeter-terms-adocia-vindicated-570m-diabetes-deal-lilly-0
It’s an expensive error for Indianapolis-based Lilly and complete vindication for Lyon, France-based Adocia. The companies’ previous alliance, which they entered in 2011, involved an up-front payment of $10 million with up to $155 million more to come in milestones. However, Lilly decided to exit that deal in July last year, just before the first milestone payment was due. (See BioWorld Today, July 31, 2013.)
http://www.bioworld.com/content/sweeter-terms-adocia-vindicated-570m-diabetes-deal-lilly-0