INDIANAPOLIS and BOSTON, June 17, 2015 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) and Dana-Farber Cancer Institute today announced a multiyear collaboration to research new medicines under development to fight cancer.
"Working together is the most powerful approach in fighting cancer," said Richard Gaynor, M.D., senior vice president, product development and medical affairs, Lilly Oncology. "Lilly's partnership with Dana-Farber demonstrates an open, collaborative research approach—uniting the expertise of the pharmaceutical industry with that of a leading academic cancer research institution."
Per the agreement, over the course of three years Dana-Farber will provide research and development expertise for a number of early-stage Lilly oncology compounds. Dana-Farber researchers and Lilly scientists will work collaboratively on preclinical and clinical studies, molecular studies of patient samples and the design and conduct of clinical trials, which may result in important advances in the science of cancer care. The agreement also allows Dana-Farber scientists to conduct independent studies on select Lilly compounds. Following research conducted at Dana-Farber, the evaluated compounds will still be fully owned by Lilly. Financial terms of the agreement are not being disclosed.
"This is a new kind of collaboration between a comprehensive cancer center and a large pharmaceutical company," said Barrett Rollins, M.D., Ph.D., chief scientific officer of Dana-Farber. "Under this agreement, Lilly can access the expertise within Dana-Farber to help it develop multiple preclinical and clinical compounds. Together, we can bring compounds to clinical trials and to FDA approval quickly and efficiently, and thus benefit our patient population."
About Dana-Farber Cancer Institute
Dana-Farber Cancer Institute, a principal teaching affiliate of Harvard Medical School, is world-renowned for its leadership in adult and pediatric cancer treatment and research. Designated as a comprehensive cancer center by the National Cancer Institute (NCI), it is one of the largest recipients among independent hospitals of NCI and National Institutes of Health grant funding. For more information, go to www.dana-farber.org.
About Lilly Oncology
For more than fifty years, Lilly has been dedicated to delivering life-changing medicines and support to people living with cancer and those who care for them. Lilly is determined to build on this heritage and continue making life better for all those affected by cancer around the world. To learn more about Lilly's commitment to people with cancer, please visit www.LillyOncology.com.
About Eli Lilly and Company
Lilly is a global healthcare leader that unites caring with discovery to make life better for people around the world. We were founded more than a century ago by a man committed to creating high-quality medicines that meet real needs, and today we remain true to that mission in all our work. Across the globe, Lilly employees work to discover and bring life-changing medicines to those who need them, improve the understanding and management of disease, and give back to communities through philanthropy and volunteerism. To learn more about Lilly, please visit us at www.lilly.com and newsroom.lilly.com/social-channels. C-LLY
Lilly Forward-Looking Statement
This press release contains "forward-looking statements" (as that term is defined in the United States Private Securities Litigation Reform Act of 1995) regarding the potential of cancer research and development at Lilly. This press release reflects Lilly's current beliefs. However, there are substantial risks and uncertainties in the process of drug research, development, and commercialization. Among other risks, there can be no guarantee that these compounds will receive regulatory approval, or, if approved, that it will achieve intended benefits or become a commercially successful product. For further discussion of these and other risks and uncertainties that could cause actual results to differ materially from Lilly's expectations, please see the company's latest Forms 10-K and 10-Q filed with the U.S. Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements.
SOURCE Eli Lilly and Company