Shanghai-based Abbisko Therapeutics Co., Ltd. (HKEX: 02256.HK) and Eli Lilly and Company have announced a multi-target research collaboration and license agreement under which Abbisko will conduct discovery and early development activities for novel small-molecule drug programs directed against disease targets selected by Lilly. The deal carries an undisclosed upfront fee and potential milestone payments worth up to approximately USD 1.9 billion, plus tiered royalties on net sales of any resulting products, and expands a relationship between the two companies that originated in 2022.
Under the agreement, Abbisko will apply its early-stage drug discovery platform, R&D ecosystem, and development expertise to generate novel candidates across multiple undisclosed targets. Lilly selects the disease targets and will assume responsibility for downstream development and commercialization. The programs span multiple therapeutic areas; specific targets, indications, and the number of programs covered have not been disclosed.
Abbisko’s pipeline includes multiple kinase inhibitors and immuno-oncology programs, several of which have entered clinical testing in China and globally. Lilly is not Abbisko’s first multinational partner. Germany’s Merck KGaA last year exercised an option to pimocotinib under a deal originally signed in 2023, highlighting continued industry interest in Abbisko’s small-molecule discovery capabilities. For Lilly, the deal is the latest in a string of research platform partnerships, licensing deals, and major acquisitions. Among recent deals of comparable scale was Lilly’s March 2026 R&D partnership signed with Insilico Medicine (HKEX: 3696), which included a USD 115 million upfront payment against a potential deal value of approximately USD 2.75 billion for an AI-driven multi-target drug discovery collaboration.
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