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Lilly, Kumquat To Develop Novel Small Molecules That Stimulate Tumor-Specific Immune Responses

Loxo Oncology at Lilly, a research and development group of Eli Lilly and Co. (LLY), and Kumquat Biosciences said that they have collaborated to discover, develop and Commercialize potential novel small molecules that stimulate tumor-specific immune responses.

As per the collaboration, Kumquat will utilize its small molecule immuno-oncology platform to discover novel clinical candidates. Lilly has the option to select a certain number of drug candidates for further development and commercialization worldwide, excluding Greater China.

Kumquat has retained development and commercialization rights in Greater China for each of the drug candidates selected by Lilly, subject to Lilly's option to co-commercialize in Greater China.

Additionally, Kumquat has the option to co-develop and co-commercialize a certain number of the drug candidates selected by Lilly in the U.S.

Kumquat will receive an aggregate of $70 million consisting of a cash upfront payment and an equity investment.

Kumquat is eligible to receive over $2 billion in potential milestone payments based on the achievement of preclinical, development and future commercial milestones, as well as royalties on sales of commercialized products resulting from the collaboration.

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