Eli Lilly gains access to a Spiegelmer compound, and Noxxon will use the same technology to identify more compounds.
Noxxon Pharma signed a licensing and drug discovery agreement with Eli Lilly regarding the discovery and development of Spiegelmers® for the treatment of migraine. These compounds are synthetic mirror-image RNA molecules not found in nature and are not subject to degradation by nucleases.
By screening oligonucleotide libraries containing over 1,015 compounds, Noxxon is able to identify Spiegelmers® that bind and inhibit their target molecules.
Under the terms of the agreement, Lilly receives an exclusive, worldwide license to a novel preclinical Spiegelmer. Noxxon will also use its Spiegelmer technology to identify follow-on inhibitors.
Noxxon will receive an upfront payment, research funding, and milestones for the achievement of specified R&D activities. Additionally, the company will earn royalties from resulting products.
