NOXXON Pharma AG Achieves Milestone in Partnership with Eli Lilly and Company
NOXXON Pharma AG announced the achievement of an important milestone in its drug discovery and development partnership with Eli Lilly and Company. NOXXON's successful identification of a Spiegelmer® with picomolar affinity and high selectivity for its target met contractually specified milestone criteria and triggers a payment of an undisclosed amount. Lilly and NOXXON entered into the agreement last year to discover and develop Spiegelmers® for the treatment of migraine.
Following the completion of the discovery work, the identified Spiegelmer® will undergo pharmacological testing and pre-clinical development. Lilly is responsible for the pre-clinical and clinical development as well as the commercialization of the Spiegelmer® product, provided the product is approved by regulatory authorities.
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