August 25, 2021 -- Lilly and Lycia Therapeutics have signed a multiyear deal to develop and commercialize new lysosomal targeting chimera (LYTAC) degraders based on Lycia's proprietary protein degradation technology.
Lycia's next-generation degradation approach targets the untapped extracellular proteome, including cell surface receptors and secreted proteins.
The platform may eventually enable the development of several therapy models, including antibodies and small molecules, potentially inhibiting many targets previously deemed intractable in numerous diseases.
The companies will use Lycia's platform to discover and develop novel degraders for up to five targets that address key unmet needs in Lilly's therapeutic focus, including immunology and pain. Lilly will be responsible for preclinical and clinical development of candidates.
Under the agreement, Lycia will receive an upfront payment of $35 million. Lycia is also eligible to receive over $1.6 billion in potential milestone payments based on the achievement of prespecified preclinical, development, and commercial milestones, as well as tiered royalties on sales.
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