Junshi and Eli Lilly have reached a USD 255 million COVID-19 Virus Antibody Authorization Deal

On May 4, Junshi Biosciences and Eli Lilly Pharma announced that the two parties have reached an agreement to jointly develop and commercialize SARS-CoV-2 neutralizing antibodies against new coronary pneumonia caused by the new SARS-CoV-2 coronavirus ("Junshi COVID-19 virus antibody ", product code: JS016). Junshi Biosciences is a Chinese pharmaceutical company focusing on the discovery, development and commercialization of innovative therapies.

Junshi Biosciences announced on March 20, 2020 that the company and the Institute of Microbiology of the Chinese Academy of Sciences ("CAS Institute of Microbiology") signed a project cooperation agreement to jointly develop and produce new coronavirus neutralizing antibodies and provide innovations for the treatment of COVID-19.

According to the agreement, Eli Lilly paid a down payment of US $ 10 million + a milestone of up to US $ 245 million, plus a double-digit percentage of sales. In addition, Eli Lilly subscribed for the company's newly issued H shares for US $ 75 million. Under the agreement, Eli Lilly will be granted an exclusive license to conduct research and development activities, production and sales of JS016 outside of Greater China.

Junshi Biosciences has completed the pre-clinical research required for IND, the development and production of antibody technology for GLP toxicology research, and the production of clinical GMP antibody. TopAlliance and Eli Lilly and Company plan to submit IND applications and start clinical research in the United States in the second quarter of 2020. IND applications will also be submitted as soon as possible in China.

Reference:

1. http://news.bioon.com/article/6755205.html  

2. https://new.qq.com/omn/20200505/20200505A00QS100.html  
   

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