Pharma BD Deal Intelligence

Eli Lilly and Company / Abbisko Therapeutics Co., Ltd.

2026 · Licensing/Option · $1.9B · Complete

Abbisko Therapeutics entered a strategic research collaboration and license agreement with Eli Lilly under which Abbisko will run early-stage discovery across multiple targets chosen by Lilly. Abbisko receives an undisclosed upfront payment and is eligible for development, regulatory and commercial milestones totaling up to approximately USD 1.9 billion, plus tiered royalties on annual net sales of resulting products. The agreement deepens a relationship that began with a 2022 global collaboration and exclusive license on a novel small-molecule therapeutic.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2031 at the earliest for this deal, once/if it closes.

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