360 million to join hands with biontech to launch tumor immunotherapy Market

Source: Biovalley 2015-05-13 May 13, 2015 Lilly company recently announced that it has reached a cooperation agreement with biontech, a German biotechnology company, to jointly develop new cancer therapy The total amount of this agreement is as much as 360 million US dollars This includes $30 million in signing capital, $30 million in options and a $300 million milestone bonus With the rapid development of tumor immune market in the United States, biotechnology peers in Europe have rapidly established their own positions in this field Among them, Germany's biontech company is the leader However, the tumor immunotherapy market in the United States has become extremely crowded under the pressure of Novartis, Juno and other giants Therefore, other biomedical companies want to have a foothold in this field, and joining hands with European biomedical companies has naturally become the best choice Although the tumor immunotherapy represented by car-t therapy has made great progress, there are still side effects such as damage to healthy tissues and inflammation storm, which will threaten the life safety of patients Biontech claims that TCR therapy developed by the company can obtain T cell clones directly from patient samples, which is expected to minimize the risk of side effects of such therapy The process takes only 11 days Perhaps it is because of this that Lilly decided to join hands with biobtech in order to make a big contribution to the tumor immunotherapy market In recent years, Lilly's tumor business has made a lot of progress Cyramza, a new drug developed by Lilly for the treatment of gastric cancer, has been approved by FDA This has also stimulated Lilly's determination to continue to pursue success in the field of cancer treatment On the other hand, Lilly company is also facing a lot of difficulties recently With the increasing competition of generic drugs, many of Lilly's best-selling products are facing strong challenges The latest data shows that Lilly company's ranking in the biomedical industry has dropped to the top 10 All of these forces Lilly to find a new breakthrough to help the company out of its predicament Obviously, Lilly believes that the joint venture with bintech is a great opportunity Dr Greg plowman, deputy director of Lilly's tumor business department, said that at present, the tumor immunotherapy market is far from mature Cooperating with biontech to develop new tumor immunotherapy such as TCR will help Lilly to occupy an advantage in the second wave of immunotherapy.