Company News

 

June 21, 2000


Ono and Lilly signed a License Agreement on the Worldwide Development and Marketing of a Novel Therapeutic Drug for Acute Lung Injury
Ono Pharmaceutical Co., Ltd. (Ono) announced in April that the company signed a letter of intent with Eli Lilly and Company(Eli Lilly, Indiana), a worldwide major pharmaceutical company, to develop, manufacture and market sivelestat (Elaspol(R)), a novel therapeutic drug for the treatment of acute lung injury that has been developed by Ono. Ono is now pleased to announce that the company signed a definitive License Agreement.

Eli Lilly will receive an exclusive worldwide license to develop and market sivelestat excluding Japan, S. Korea and Taiwan. In exchange, Ono will receive an upfront signing fee, milestone payments and royalties resulting from product sales. Ono will be solely responsible for worldwide manufacturing and Lilly will be solely responsible for worldwide development and marketing, excluding the three countries previously listed. Eli Lilly will start clinical phase II trial in overseas soon.