Eli Lilly, Transition Therapeutics deal

Transition will regain rights to Type II diabetes compound TT401 from Eli Lilly after the pharma elected not to advance the compound into Phase III trials. Lilly said that Phase II data of the product “did not meet our success criteria for a next generation incretin therapeutic.” Transition remains eligible for royalties on related Lilly compounds, and Lilly is eligible for royalties on TT401 sales and on TT401 non-royalty income. ...