Lilly, UPenn Nimbus ink $496M biobucks deal

Eli Lilly is forecasting that Nimbus Therapeutics will discover new therapies for treating metabolic diseases, partnering up with the biotech and giving it the chance to collect up to $496 million in biobucks.

Per the agreement, Nimbus will work to discover new targeted therapies that activate a specific isoform of AMP-activated protein kinase (AMPK) for metabolic diseases using its computational drug discovery engine and structure-based drug design.

Lilly then has exclusive, worldwide licensing rights to any isoform-selective small molecule activators of AMPK that Nimbus discovers. The Big Pharma will be responsible for global development and commercialization activities.

Under the agreement terms, Nimbus will collect a series of funding payments and milestones fees throughout the research, development and commercialization stages, with the potential to make up to $496 million total. Nimbus could also receive tiered royalties on global net sales ranging from mid-single to low double-digits.

AMPK is a high-value target for metabolic disease treatment, said Nimbus Chief Scientific Officer Peter Tummino, Ph.D., in a press release. The biotech will benefit from Lilly’s expertise in metabolic diseases, including diabetes, obesity and related disorders, he added.

Developing therapies targeting AMPK is part of the Big Pharma’s ongoing efforts to expand treatment options for patients with metabolic disorders, said Ruth Gimeno, Ph.D., Lilly’s SVP of diabetes research and clinical investigation, in the release.

Nimbus, a clinical-stage company based in Massachusetts, recently closed a $125 million private financing round that included funds from Pfizer Ventures. The money will go toward three clinical inflammatory and autoimmune disorder programs, including a phase 3 psoriasis study.

Full story: Lilly, Nimbus ink $496M biobucks deal

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