Ropes & Gray advised Eli Lilly in a collaboration with Hong Kong-based Metis TechBio worth up to $1.1 billion to research and develop tissue-specific drug delivery technologies using novel lipid nanoparticles that carry genetic medicines into cells using Metis’ AI platform designed to improve targeting and therapeutic performance of drugs. The deal was announced on October 19.
Under the agreement, Metis will receive an upfront payment in the low double-digit millions of dollars and will be eligible to receive up to $1.1 billion in development, regulatory and commercial milestone payments, along with royalties of annual net product sales developed through the collaboration.
The Ropes & Gray team was led by life sciences licensing partner Abby Gregor and associate Nicole Rohr and included and IP transactions associate Mina Li.
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