A day after Pfizer decided to step back from the development of a universal cell therapy for cancer, Eli Lilly is jumping in, this time for diabetes. Lilly is licensing cell encapsulation technology from Cambridge, MA biotech Sigilon Therapeutics to develop an off-the-shelf, or “allogeneic”, cell therapy to treat type 1 diabetes.
The two companies announced today that Lilly (NYSE: LLY) will pay Sigilon $63 million up front and make an undisclosed equity investment. The startup could also receive up to $410 million in development and commercialization milestones, as well as royalties on future sales if an FDA-approved product reaches… Read more »
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