June 9 (Reuters) – AlzeCure Pharma said on Tuesday it had entered a collaboration and out-licensing agreement with Eli Lilly for the global rights of an Alzheimer’s treatment in a deal that could exceed $1 billion in total value.
AlzeCure develops small-molecule drug candidates for central nervous system diseases with a focus on Alzheimer’s disease and pain.
• The deal is for the global rights to AlzeCure’s drug candidate Alzstatin ACD680, currently in preclinical development
• AlzeCure will receive an upfront payment of $10 million, development and commercial milestone payments, and tiered mid-single digit royalties on sales
• Alzstatin compounds are hoped to be used to counteract re-accumulation of harmful amyloid buildup in the brain and in the long term may be used to help prevent Alzheimer’s disease, CEO Martin Jönsson said
(Reporting by Vera Dvorakova, Editing by Milla Nissi-Prussak)
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