AlzeCure inks deal with Lilly for Alzheimer’s project
Swedish CNS specialist AlzeCure Pharma (FN STO: ALZCUR) saw it shares rocket 280% to 5.26 kronor by early afternoon, after it revealed it has entered into a collaboration and out-licensing agreement with US pharma major Eli Lilly (NYSE: LLY) regarding the global rights to the Alzheimer’s project Alzstatin ACD680.
Under the newly announced agreement, the Swedish company is set to receive an upfront payment of $10 million. In addition to this initial sum, the structure includes development and commercial milestone payments, along with tiered mid-single digit royalties on future sales. AlzeCure indicated that the total potential value of the transaction, excluding royalty payments, may surpass $1 billion.
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