Benzinga | Dec 10, 2021 09:22AM EST

Eli Lilly Pens $1.5B Pact With Regor For Metabolic Disease Therapies

Eli Lilly And Co (NYSE:LLY) is making a $1.5 billion biobucks bet on Chinese biotech Regor Therapeutics to develop new therapies for metabolic disorders.

* Under the deal, Lilly will have a license to select Regor IP with an option to extend the license.

* Lilly will be responsible for clinical development, manufacturing, and commercialization worldwide except China, Macau, Hong Kong, and Taiwan, where Regor will maintain these rights and responsibilities.

* Regor will receive an upfront payment of up to $50 million, which partially includes an equity investment by Lilly in Regor.

* The Company is also eligible to receive up to $1.5 billion in potential milestone payments and tiered royalties from low-single to low-double digits.

* Also Read: Lilly's COVID-19 Antibody Cocktail Scores FDA Emergency Use For Kids, Including Newborns.

* Price Action: LLY shares are up 0.45% at $244.00 during the premarket session on the last check Friday.