Lilly in pact with Medarex and Biosite
Eli Lilly has entered into a collaborative agreement with BiositeDiagnostics and Medarex, using the latter firms' Trans-Phage technology to generate high-affinity, fully-human antibodies to genomics-derived targets provided by the Indianapolis, USA-based drug major.
Under the agreement, Lilly will provide Biosite with targets on an annual basis for a period of three years and will pay technology access development fees upon delivery of a target. Biosite will also receive fees upon the achievement of certain preclinical and clinical development, and if antibodies developed under the collaboration reach commercialization, Medarex will receive license fees, milestones and royalty payments from Lilly. Biosite and Medarex formed an alliance focusing on accelerating drug research via Trans-Phage technology in June 2000.
"Extensive discovery effort"
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