Eli Lilly is putting up $100 million immediately and in the near term as part of a five-target drug discovery collaboration with InnoCare Pharma. The deal includes up to $3.25 billion in milestone payments, according to Fierce Biotech.
The five targets are the focus of the pact, but the announcement does not specify which disease areas or biological pathways they involve. The milestone payments represent the bulk of the deal's potential value, with the initial $100 million serving as the entry point.
The agreement is a financial arrangement in which Lilly provides funding and InnoCare contributes its discovery capabilities. The source does not detail the division of rights or responsibilities between the two companies.