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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Eli Lilly and Co | NYSE:LLY | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -2.77 | -0.36% | 775.00 | 781.3499 | 772.20 | 779.00 | 2,089,936 | 01:00:00 |
From May 2019 to May 2024
By Colin Kellaher
Eli Lilly & Co. on Thursday said it would receive an exclusive worldwide license to Rigel Pharmaceuticals Inc.'s receptor-interacting serine/threonine-protein kinase 1, or RIPK1, inhibitors as part of a collaboration with the clinical-stage biotechnology company.
Eli Lilly said it would make an up-front payment of $125 million to Rigel, which would also be eligible for up to $835 million in future development, regulatory and commercial milestones, along with royalties on sales.
The Indianapolis drugmaker said the companies plan to co-develop and commercialize Rigel's Phase 2-ready R552 inhibitor for all indications, including autoimmune and inflammatory diseases.
Eli Lilly said it would also lead all clinical development of brain-penetrating RIPK1 inhibitors in central-nervous-system diseases.
Shares of South San Francisco, Calif.-based Rigel, which closed Wednesday at $4.53, jumped more than 40% in premarket trading Thursday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 18, 2021 07:09 ET (12:09 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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