Eli Lilly in licensing pact with Alchemab for ALS program

U.K.-based biotech Alchemab on Tuesday announced a licensing agreement with Eli Lilly (NYSE:LLY) to jointly develop ATLX-1282, an early-stage therapeutic candidate targeting amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases.

The deal is built on Alchemab’s existing collaboration to develop and commercialize up to five ALS candidates, and it is worth up to $415M, including an upfront payment, milestone payments, and royalties, the company said.

Under the agreement, Alchemab will advance ATLX-1282, which has already completed preclinical development through early Phase 1 clinical trials, before Eli Lilly (NYSE:LLY) takes over its subsequent development and commercialization.

"As the first programme from our highly novel platform, this is a landmark transaction for Alchemab,” CEO Jane Osbourn said. “With Lilly's deep expertise in neurological conditions, they are ideally placed to speedily advance ATLX-1282 through the clinic and maximise the potential to help patients.”