Noxxon Pharma AG announced the signing of a licensing and drug discovery agreement with Eli Lilly and Company regarding the discovery and development of Spiegelmers for the treatment of migraine.
Under the terms of the agreement Noxxon grants Lilly an exclusive worldwide license to a novel pre-clinical Spiegelmer, and will use its Spiegelmer technology to identify follow-on inhibitors. Lilly will conduct all pre-clinical and clinical development as well as the worldwide commercialization of products. Noxxon stands to receive an initial payment, committed research funding, and milestones for the achievement of specified research and development events. In addition, Noxxon is eligible to earn royalties on worldwide sales of products commercialized by Lilly as a result of this collaboration.
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