PsychoGenics expands discovery deal with Lilly

PsychoGenics says that it has entered into an additional drug discovery agreement with US drug major Eli Lilly. Under the terms of the deal, Lilly will supply pre-candidate compounds that PsychoGenics will evaluate using its proprietary drug discovery technologies, for the treatment of neuropsychiatric disorders.

The two US firms aim to jointly identify drug candidates suitable for clinical development. Upon Lilly's further development of clinical candidates, PsychoGenics would receive research and milestone payments and royalties.

Emer Leahy, chief executive of PsychoGenics, said: "we are confident that by combining the complementary strengths and expertise of PsychoGenics and Lilly, we may identify a new generation of treatments for neuropsychiatric disorders."