LLY), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=LLY. The Company announced on October 18, 2017, that it has entered into a global immuno-oncology collaboration with CureVac AG. The aim of the collaboration is to concentrate on the developing and commercializing up to five potential cancer vaccine products that target neoantigens across multiple tumor types. These potential cancer vaccines would be based on CureVac's proprietary RNActive® technology. Both Companies will make use of the messenger RNA (mRNA) technology that targets tumor neoantigens for a more robust anti-cancer immune response. For immediate access to our complimentary reports, including today's coverage, register for free now at:" data-reactid="11">
LONDON, UK / ACCESSWIRE / October 20, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Eli Lilly and Co. (NYSE: LLY), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=LLY. The Company announced on October 18, 2017, that it has entered into a global immuno-oncology collaboration with CureVac AG. The aim of the collaboration is to concentrate on the developing and commercializing up to five potential cancer vaccine products that target neoantigens across multiple tumor types. These potential cancer vaccines would be based on CureVac's proprietary RNActive® technology. Both Companies will make use of the messenger RNA (mRNA) technology that targets tumor neoantigens for a more robust anti-cancer immune response. For immediate access to our complimentary reports, including today's coverage, register for free now at:
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on LLY. Go directly to your stock of interest and access today's free coverage at:
Details of the collaboration agreement
As per the terms of the agreement between the two Companies, Eli Lilly will make an upfront payment of $50 million to CureVac along an equity investment of €45 million. CureVac is eligible to get more than $1.7 billion as development and commercialization milestones if it is successful in developing all the five vaccines. Apart from this CureVac would also receive tiered royalties on the sales of these potential vaccines.
As per the terms of the agreement Lilly would be responsible for target identification, clinical development, and commercialization while CureVac would be responsible for mRNA design, formulation, and manufacturing of clinical supply. CureVac also has the option of co-promoting the potential vaccines in Germany.
The vaccine will use CureVac's proprietary RNActive technology to deliver mRNA which ultimately directs the human immune system to target the encoded neoantigens. These tumor-specific neoantigens direct the patient's existing immune system to attack the cancer cells, thereby eradicating cancer.
The closing of the transaction is based on the deal receiving clearance under the Hart-Scott-Rodino Antitrust Improvements Act and is subject to other closing conditions. Once the transaction is completed, Eli Lilly expects to incur costs at approximately $0.03 per share towards acquiring in-process research and development (R&D) charge.
Commenting on the global collaboration, Greg Plowman, M.D., Ph.D., Vice President of Oncology Research at Eli Lilly, said:
" data-reactid="22">"We are excited to be collaborating with CureVac to discover what could potentially be the next frontier of cancer medicines. This collaboration reinforces Lilly's commitment to delivering life-changing medicines to treat and cure people living with cancer around the world."
Ingmar Hoerr, Ph.D., Co-founder and CEO of CureVac, added:
" data-reactid="24">"This new collaboration with Lilly is a testimony to the progress and sophistication of CureVac's RNActive technology and the potential of mRNA-based therapeutics. We now have the opportunity to combine forces to further expand the exciting space of immuno-oncology with the next generation of cancer therapies."
About Eli Lilly & Co.
Indianapolis, Indiana based Eli Lilly was founded in 1876 by Colonel Eli Lilly and is a global healthcare leader dedicated to creating medicines that help improve peoples' quality of life. It is also the 10th largest pharmaceutical Company in the world. The Company's products are marketed in more than 120 countries. The Company has a strong emphasis on R&D with over 9,000 employees engaged in R&D across its R&D facilities located in six countries. The Company is supported by a global team of over 41,000 employees.
Tübingen, Germany based CureVac was founded in 2000 Ingmar Hoerr, Steve Pascolo and Florian von der Mülbe. It is a leading biopharmaceutical Company and a pioneer in successfully harnessing messenger RNA (mRNA) for medical purposes. CureVac's proprietary technology uses mRNA as a data carrier to instruct the human body to produce its own proteins capable of fighting a wide range of diseases. The Company applies its technologies for the development of cancer therapies, prophylactic vaccines, and molecular therapies. The Company has raised approximately $370 million in equity investments from investors like SAP founder Dietmar Hopp's dievini and an investment of $52 million from the Bill & Melinda Gates Foundation. The Company also has collaborations with MNCs and other organizations including Boehringer Ingelheim, Sanofi Pasteur, the Bill & Melinda Gates Foundation, and IAVI.
Last Close Stock Review
On Thursday, October 19, 2017, the stock closed the trading session at $86.36, slightly up 0.73% from its previous closing price of $85.73. A total volume of 3.23 million shares have exchanged hands. Eli Lilly's stock price advanced 2.01% in the last three months, 5.46% in the past six months, and 9.93% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have surged 17.42%. The stock is trading at a PE ratio of 37.43 and has a dividend yield of 2.41%. At Thursday's closing price, the stock's net capitalization stands at $94.95 billion.
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