Eli Lilly (LLY) will pay a $40 million upfront payment and a $15 million equity investment to ABL Bio, the latter said Friday.
The upfront payment of $40 million is for the license, research, and collaboration agreement for ABL's Grabody platform, ABL said, adding that the two parties are currently carrying out joint research and development on multiple therapeutic candidates through the Grabody platform.
ABL said it struck a $2.60 billion agreement with Eli Lilly on Nov. 12 and Nov. 14 for its Grabody platform, which included a $40 million upfront payment and a $15 million equity investment.
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