Gate Bioscience has announced a collaboration and license agreement with Eli Lilly and Company to discover, develop, and commercialise molecular gate therapeutics.
The collaboration will leverage Gate’s molecular gate drug discovery engine to identify molecular gates capable of eliminating specific difficult-to-drug proteins, bringing forth medicines with a new mechanism of action for diseases of high unmet medical need.
“This collaboration fuels our vision to make molecular gates into medicines,” said Jordi Mata-Fink, co-founder and CEO of Gate.
“Our drugs eliminate disease-causing proteins at their source with a convenient pill. Lilly’s expertise in developing innovative therapeutics to address unmet medical needs for the benefit of patients stands apart. Lilly is an ideal partner for Gate as we develop the first wave of molecular gate drugs.”
Under the terms of the agreement, Gate will receive an upfront payment and equity investment and will be eligible to receive milestone payments upon achievement of certain development, regulatory, and commercial milestones, as well as tiered royalties on global net sales, with a total deal value up to $856m. Gate can also receive certain preclinical R&D support from Lilly ExploR&D, a pillar of Lilly Catalyze360, for their internal programmes.
“Lilly has shown its commitment to building the biotech ecosystem through win-win partnerships with innovative start-up companies,” said Vineeta Agarwala, board member at Gate and general partner at a16z Bio + Health.
“With this collaboration, Lilly gains access to a transformative new drug modality and Gate taps into Lilly’s deep expertise in delivering meaningful therapeutics. Ultimately, patients will be the big winners.”
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