PeptiDream signs Collaboration and License Agreement with Lilly

PeptiDream Inc, a Tokyo-based biopharmaceutical company (PeptiDream)(TOKYO:4587), announced that they have entered into a Collaboration and License Agreement with US-based Eli Lilly and Company (Lilly)(NYSE:LLY) on 19 December 2013. Under the agreement, PeptiDream will identify macrocyclic peptides as potential drug candidates for disease targets being pursued by Lilly. PeptiDream will leverage its proprietary Peptide Discovery Platform System (PDPS) technology for translational synthesis, selection, and screening of nonstandard macrocyclic peptides, and Lilly will be responsible for any subsequent research and development as pharmaceutical candidates.

Under the terms of the Agreement, PeptiDream will receive an undisclosed upfront payment, research funding and milestone payments upon the successful achievement of certain development milestones. In addition, PeptiDream is eligible to receive royalties on future sales of products that arise from the collaboration.

"We are very excited to start working with such an excellent partner in Lilly to discover and develop novel therapeutic peptides with the goal of developing high quality molecules for clinical development toward the clinic. This deal underscores the value of PeptiDream's novel screening technology for therapeutic peptide discovery as a way to help advance patient care", said Kiichi Kubota, Chief Executive Officer of PeptiDream.

SOURCE PeptiDream Inc.