Eli Lilly entered into a global licensing deal with Mediar Therapeutics, aiming to develop a first-in-class therapy for idiopathic pulmonary fibrosis.
The back-heavy deal will see Lilly hand over $99 million in upfront payment and near-term milestones, according to a Mediar news release, while the Boston biotech will be eligible to up to $687 million in downstream development and commercialization milestones. Mediar will also be able to receive high-single to low-double-digit royalties on future potential net sales.