Eli Lilly ends deal with NextCure worth up to $1.4B for the local biotech - (This is Money via NewsPoints Desk)

  • NextCure disclosed in a US Securities and Exchange Commission (SEC) filing that Eli Lilly will terminate a partnership with the company on March 3 focused on developing immuno-oncology therapies, as reported by This is Money.

  • NextCure did not disclose details about the reason as to why Eli Lilly was ending the deal and declined to comment further beyond the SEC filing.

  • Under the agreement, signed in November 2018, Eli Lilly gave NextCure $32.7 million, which included $25 million upfront, quarterly R&D support payments, and it made a $15-million equity investment in the company.

  • NextCure was also eligible to receive milestone payments of up to $1.4 billion.

  • In exchange, Eli Lilly gained access to NextCure's platform for research aimed at developing and commercializing new cancer treatments, with both companies having options to manufacture products stemming from the collaboration.

  • The deal similarly indicated that NextCure could owe up to $710 million in milestone payments for options it exercises, according to federal filings.

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