(RTTNews) - Abbisko Therapeutics Co., Ltd. (2256.HK), an oncology-focused biopharmaceutical company, has entered into a strategic research collaboration and license agreement with Eli Lilly and Company (LLY) to discover and develop medicines across multiple targets.
Abbisko will use its early-stage drug discovery platform and research and development capabilities to support drug discovery programs targeting disease areas selected by Lilly.
The companies previously entered into a global collaboration and exclusive licensing agreement in 2022 to develop small-molecule therapeutics.
Abbisko Therapeutics develops Pimicotinib (ABSK021), a small-molecule CSF-1R inhibitor, that is currently in the NDA stage for the treatment of tenosynovial giant cell tumours.
2256.HK has traded between a 52-week low of HK$8.34 and a high of HK$19.78.The stock is currently trading at HK$9.31 up 3.44%.
LLY has traded between $623.78 and $1,182.73 over the last year. LLY closed Tuesday's trade at $1107.08, up 0.45%. In the overnight market, LLY is up 0.15% at $1108.73.
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