HK-listed Metis TechBio, Eli Lilly strike drug-delivery deal worth up to $1.1 billion (updated)

Metis TechBio

Mon 12:25

Adds details throughout
Oct 19 (Reuters) - Hong Kong-listed Metis TechBio 7666.HK said on Monday it has entered into a collaboration agreement with Eli Lilly LLY.N worth up to $1.1 billion to research and develop tissue-specific drug delivery technologies.
The Chinese biotech will use its proprietary AI-driven drug-delivery platform to develop next-generation technologies aimed at improving how LNP-based drugs reach target tissues.
Metis will be eligible to receive an upfront payment in the low double-digit millions US dollars and up to about $1.1 billion in development, regulatory and commercial milestone payments.
It will also be eligible for tiered royalties at a single-digit percentage of annual net sales of products that are developed due to the collaboration.
The Chinese biotech will use its proprietary AI-driven ionizable lipid discovery and optimisation platform to develop delivery technologies aimed at improving the targeting and biodistribution of LNP-based therapies.
Metis and Lilly aim to discover and optimise novel LNP architectures that could improve tissue specificity and therapeutic performance, with potential applications across multiple disease areas.

 (Reporting by Nikita Maria Jino and Kumar Tanishk in Bengaluru; Editing by Joyjeet Das)
 ((Nikita.Jino@thomsonreuters.com;))