NEW YORK (GenomeWeb News) – Gene Logic today said it will try to discover new development paths for drug candidates discontinued in clinical trials by Eli Lilly.
The candidates were discontinued for reasons other than safety, Gene Logic said.
Under the deal, Gene Logic has the option to receive an exclusive license to any drug candidate Eli Lilly decides not to purse. Eli Lilly would receive success-based milestone and royalty payments on those candidates.
The milestone payments and royalties under the agreement are similar to those in development-stage in-licensing deals, Gene Logic said. The payments are discounted because Eli Lilly originated the compound.
Additional details were not disclosed.