Metis TechBio, Eli Lilly sign drug-delivery deal worth up to US$1.1 billion
Hong Kong-listed Metis TechBio has signed a collaboration with Eli Lilly worth up to US$1.1 billion to develop tissue-specific drug-delivery technologies using its AI-driven platform. Metis will receive an upfront payment and milestone fees, plus tiered royalties on net sales of resulting products.
Hong Kong-listed Metis TechBio (7666) said on Monday it has entered into a collaboration agreement with Eli Lilly worth up to US$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 lipid nanoparticle (LNP)-based drugs reach target tissues.
Under the deal, Metis will be eligible to receive an upfront payment in the low double-digit millions of US dollars and up to about US$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 developed through the collaboration.
The company 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.