Lilly/Autoimmune
Executive Summary
Lilly will fund Phase II/III development of Lexington, Mass.- based Autoimmune's AI-401 oral tolerance product for halting the progression of diabetes under an agreement announced Dec. 2. AI- 401 is an oral form of recombinant human insulin which Autoimmune believes can modify the immune system to stop the destruction of insulin-producing cells. Lilly would have exclusive manufacturing and marketing rights to the product and to future oral tolerance products for diabetes. The agreement could be worth up to $40 mil., including $20 mil. in milestone payments to Autoimmune and $20 mil. in research funding by Lilly. However, "Lilly has the right to terminate at any time"
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