ARTICLE | Company News

Eli Lilly, Merck, Pfizer drug delivery, diagnostic, supply/service news

July 14, 2008 7:00 AM UTC

Merck, Pfizer and Eli Lilly, along with PureTech Ventures, invested $39 million in startup Enlight Biosciences LLC (Boston, Mass.). The newco will focus on developing technologies to aid drug discovery and development. Enlight, which has licensed undisclosed IP from several institutions, has research programs in molecular imaging, biologics and drug delivery and will own any resulting IP. As the programs mature, Enlight will spin out new companies to focus on individual technologies. The first of these spinouts, Endra Inc., is developing tissue and molecular imaging technologies to diagnose and study diseases, as well as study the effects of treatments in humans and animals.

Enlight said the pharmas will have access to resulting technologies, undisclosed equity stakes, and the opportunity to partner with Enlight spinout programs. ...