Eli Lilly is paying $40 million up front for rights to a Confo Therapeutics drug in Phase 1 testing as a potential treatment for neuropathic pain. Confo develops drugs that target G-protein coupled receptors.
US pharmaceutical giant Eli Lilly announced Wednesday it would cut the cost of its insulin by 70 percent, with President Joe Biden calling on others to follow suit to tackle soaring drug prices.
Eli Lilly is paying $55 million up front to begin an alliance with Capsida Biotherapeutics pursuing gene therapies for central nervous system disorders. Capsida’s technology enables the delivery of a gene therapy to a single organ or multiple organs, a capability that could bring such treatments to a wider range of diseases.
Eli Lilly is acquiring Akouos on the heels of the biotech receiving FDA permission to begin a clinical trial testing its gene therapy for an inherited form of hearing loss. The deal is Lilly’s second gene therapy acquisition following the 2021 buyout of Prevail Therapeutics.