Eli Lilly (LLY) Partners with LTZ to Develop Myeloid Engager Therapies

Eli Lilly & Company (NYSE:LLY) is one of the top 10 medical AI companies to buy according to analysts. On July 29, the company entered into a strategic partnership with LTZ Therapeutics, a biotechnology firm specializing in immunotherapy. The two are joining forces to develop myeloid engager therapeutics for the treatment of diseases with high unmet needs.

Eli Lilly (LLY) Partners with LTZ to Develop Myeloid Engager Therapies

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Under the terms of the agreement, Eli Lilly is to make double-digit million-dollar upfront payments and invest in LTZ’s equity. In addition, LTZ is entitled to receive preclinical, clinical, regulatory, and commercial milestone payments.

“This collaboration represents a pivotal step towards our mission in harnessing the potential of myeloid biology to address diseases with high unmet need. With Lilly’s expertise and global reach, we’re accelerating the development of our myeloid engager programs and we’re one step closer to bringing transformative therapies to the patients who need them most,” said Robert Li, Founder and CEO of LTZ.

Eli Lilly & Company (NYSE:LLY) is a global pharmaceutical corporation focused on researching, developing, manufacturing, and distributing medicines. It’s actively incorporating AI across its operations, particularly in drug discovery and clinical trials. Lilly has also partnered with companies like OpenAI to develop novel antimicrobials for combating drug-resistant pathogens and is investing in AI-driven drug discovery platforms, such as the one from Genetic Leap, to identify new drug candidates.

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Disclosure: None. This article is originally published at Insider Monkey.