Companion Medical, a California startup with a Bluetooth-enabled insulin pen and smartphone app, pulled in Series B financing this week, led by Big Pharma player Eli Lilly. Though the amount was undisclosed, the move marks a step forward for Lilly into the world of drug delivery technology, for which the company is currently building an R&D center in Cambridge, MA.
BioNTech has snagged a small upfront fee to enter into an immuno-oncology co-development pact with Genmab. The deal was unveiled one week after Eli Lilly invested $30 million (€27 million) in BioNTech as part of an immuno-oncology deal worth a potential $300 million per asset.
Eli Lilly has led a Series B round for San Diego, CA-based startup Companion Medical. The financing is expected to enable the completion of testing and 510(k) submission for its Bluetooth-enabled insulin pen and accompanying smartphone app. The amount of the financing was undisclosed.
Eli Lilly has signed up to collaborate with researchers at Sanford-Burnham on a new generation of immunological drugs for diseases like lupus, Sjögren's syndrome, inflammatory bowel disease and other autoimmune disorders.
Eli Lilly is set to make an $18 million milestone payment to Hutchison MediPharma, majority owned by Hutchison China MediTech, or Chi-Med, in the second quarter of 2015 after a positive first proof-of-concept study result for fruquintinib, a candidate for treatment of patients with metastatic colorectal cancer in China.
When Eli Lilly bought Novartis Animal Health last year, it picked up a product that the FDA had in its crosshairs: Denagard (tiamulin hydrogen fumarate) plus CTC (chlortetracycline hydrochloride), a medicated feed product for pigs. The product is an antibiotic, and the FDA wants Lilly to stop marketing it for weight gain.
Which diabetes med is likely to be on top in 2020? According to FirstWord Pharma, that would be--surprise!--Lantus, albeit as a $5 billion shadow of its former self. Januvia should keep its hold on second prize with almost $4 billion, while Novo Nordisk's NovoRapid and Lilly's Humalog remain in the top 5 with $3.6 billion and $3.04 billion in sales.
Eli Lilly announced last week that it will be opening a drug delivery and device innovation center in Cambridge, MA, as it seeks to meet the needs of its pipeline, such as a suitable formulation for its osteoporosis candidate, and maintain its leadership position in diabetes, where delivery devices are key.
Eli Lilly has turned to Germany's BioNTech to form its latest collaboration on the cancer immunotherapy front, handing over $60 million--$30 million as a signing bonus and $30 million for equity--and promising up to $300 million in milestones for each new program that can go the distance.
Canada's Transition Therapeutics is expanding its relationship with Eli Lilly, promising up to $100 million in exchange for a muscle-boosting drug candidate.