When the campus is complete, it will produce several of Lilly’s APIs and genetic medicines to serve US patients.
If approved, the deal’s centrepiece, PER-001, could continue Bayer’s ophthalmology legacy defined by blockbuster retinal disease therapy, Eylea.
The platform will be applied to identify potential biomarkers linked to treatment response prior to upcoming trial phases.
The capital includes a $25m term loan and a warrant exercise agreement expected to yield $11.5m.
The collaboration targets the development of ORKA-001 and allows for expansion to one additional target.
The FDA granted breakthrough therapy designation to TERN-701 for adults with Philadelphia chromosome-positive CML without the T315I mutation.
