Under the strategic research collaboration and licensing agreement, AbCellera will use its antibody drug discovery platform to identify antibodies for therapeutic targets selected by Lilly. Lilly will also hold the rights to develop and commercialize any therapeutic products that are developed from the collaboration.

An initial joint effort, which was announced in March, has focused on co-developing antibody therapeutics for the possible prevention and treatment of COVID-19. Up to eight additional therapeutic targets can now be selected by Lilly, according to AbCellera.

AbCellera has received an upfront payment as part of the new contract, and will also be awarded research payments for the nonCOVID-19 targets, according to the firm. In addition, the company will be eligible for preclinical, clinical, and commercial milestone payments, as well as tiered royalties on future sales.

AbCellera secures COVID-19 drug development funding
AbCellera Biologics has secured $175.6 million Canadian ($124.7 million U.S.) from the Canadian government's Innovation, Science, and Economic...