Abbisko Therapeutics Co., Ltd. ("Abbisko Therapeutics" hereafter, HKEX code: 02256.HK) today announced that it has entered into a strategic research collaboration and license agreement with Eli Lilly and Company ("Lilly"), a leading global pharmaceutical company. Under the agreement, the two companies will collaborate on the discovery and development of innovative medicines across multiple targets, advancing novel drug candidates with global potential.

Under the terms of this agreement, Abbisko will utilize its early-stage drug discovery platform, innovative R&D ecosystem, and extensive development expertise to conduct discovery and early development activities for novel drug programs directed against disease targets selected by Lilly. Abbisko will receive an upfront payment and is eligible to receive development, regulatory and commercial milestone payments totaling up to approximately  US$1.9 billion. In addition, Abbisko will be eligible to receive tiered royalties based on annual net sales of products arising from this collaboration.

In 2022, Abbisko and Lilly entered into a global collaboration and exclusive license agreement to collaborate on the discovery, development, and potential commercialization of a novel small-molecule therapeutic.

Supported by its continually evolving drug discovery platform, extensive R&D experience and proven execution capabilities, Abbisko has continued to expand its global partnership network and accelerate the translation of scientific innovation into therapeutic advances. This collaboration with Lilly is expected to advance multiple innovative programs and further strengthen Abbisko's global innovation strategy and long-term value creation potential.