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Lilly, Merus Collaborate To Discover T-Cell Re-Directing Bispecific Antibodies

Eli Lilly and Co. (LLY), and Merus N.V. (MRUS) have collaborated to discover novel T-cell re-directing bispecific antibodies. As per the collaboration, Merus is eligible to receive for a total of up to about $1.6 billion, Lilly said in a statement.

Loxo Oncology at Lilly, a research and development group of Eli Lilly and co., and Merus have reached a research collaboration and license agreement that will leverage Merus' proprietary Biclonics platform along with the scientific and rational drug design expertise of Loxo Oncology at Lilly to research and develop up to three CD3-engaging T-cell re-directing bispecific antibody therapies.

As per the terms of the deal, Merus will lead discovery and early stage research activities while Loxo Oncology at Lilly will be responsible for additional research, development and commercialization activities.

Merus will receive an upfront cash payment of $40 million, as well as an equity investment by Lilly of $20 million in Merus common shares. Merus is also eligible to receive up to $540 million in potential development and commercialization milestones per product, for a total of up to about $1.6 billion for three products, as well as tiered royalties ranging from the mid-single to low-double digits on product sales should Lilly successfully commercialize a therapy from the collaboration.

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