Eli Lilly works with Applied NeuroSolutions on Alzheimer’s Treatment

22 December 2009 (Last Updated December 22nd, 2009 18:30)

Applied NeuroSolutions has reached an agreement with Eli Lilly to increase the scope of its drug discovery collaboration for Alzheimer's disease (AD) therapies. In addition to the financial terms from the original collaboration agreement with Lilly announced in 2006, Applied NeuroSolut

Applied NeuroSolutions has reached an agreement with Eli Lilly to increase the scope of its drug discovery collaboration for Alzheimer's disease (AD) therapies.

In addition to the financial terms from the original collaboration agreement with Lilly announced in 2006, Applied NeuroSolutions will receive an upfront cash payment of $750,000 and may receive up to $25.5m based on achievement of identified milestones.

Royalties will be paid to Applied NeuroSolutions for any AD therapies brought to market that result from the collaboration agreement.

Eli Lilly chief scientific officer of neurodegeneration Michael Hutton said Applied NeuroSolutions has developed valuable reagents for understanding Tau biology and that the group, through collaborative work, could accelerate the development of therapies for AD.