Eli Lilly is collaborating with Elektrofi, a drug delivery specialist, to explore the potential of Elektrofi’s microparticle formulation technology in the development of next-generation subcutaneously administered therapies. Under the agreement, Lilly will provide an initial payment of $20 million to secure exclusive rights to three undisclosed therapeutic targets. Subsequently, Lilly will assume responsibility for clinical development and, hopefully, commercialization of any resulting candidates.
If any of these candidates successfully advance, Elektrofi stands to receive over $150 million in milestone payments for each target, along with a share of future royalties. Additionally, the agreement allows Lilly the option to expand its scope to encompass two additional targets, subject to further payments.
Elektrofi’s technology is designed to engineer ultra-high concentration, low-viscosity protein formulations suitable for administration as low-volume, subcutaneous injections. These formulations can be administered using existing devices such as autoinjectors, which may pave the way for turning intravenous drugs into user-friendly at-home products.
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“Our collaboration with Lilly further validates the potential value of our expertise, our capabilities, and our proprietary technology platform, especially in the areas of autoimmune disease, oncology and neuroscience. Our team is looking forward to collaborating with Lilly and leveraging the talents and insights of the collective team to accomplish what is yet to be done.”
– Chase Coffman, CEO, Elektrofi
This collaboration with Lilly follows a trend of pharmaceutical companies showing interest in Elektrofi’s technology. In 2020, Takeda initiated a partnership to explore the use of Elektrofi’s technology for simplifying dosing of plasma-derived therapies, and the biotech entered into a subsequent agreement with argenx the following year.
