Implicit licenses clinical-stage MAb from Lilly

Australia's Implicit Bioscience has acquired a clinical-stage monoclonal antibody, IC14, from US drug major Eli Lilly. It has paid an undisclosed  consideration combining cash and stock to Lilly, which will also receive  a royalty on future sales of the MAb.

"Implicit Bioscience brings substantial expertise and passion to the  treatment of patients with immune-mediated disease," commented Ian  Frazer, the Australian firm's chief scientific officer. "We intend to  develop this promising drug to treat acute lung injury (ALI) caused by a  dysregulated immune response amongst intensive care patients who are on  mechanical ventilation. These patients have a significant mortality risk  with limited treatment options," he added. "An effective treatment for  ALI has the potential to reduce overall health care costs by allowing  the earlier discharge of patients from high-cost intensive care units,"  Prof Frazer noted.

Garry Redlich, Implicit chief executive, added: "the transaction to  acquire IC14 is a logical and exciting next step in Implicit's business  model. We seek to mitigate product risk through acquiring clinical stage  programs with proven safety and defined opportunities in immunological  indications. We further mitigate risk by seeking non-dilutive third  party funding to support a portion of our development expense. We are  optimistic that IC14 is an excellent opportunity, and a good fit to our  capabilities and business model."