Sigilon finds partner in Lilly for T1D encapsulated cell therapy

Sigilon Therapeutics Inc. (Cambridge, Mass.) granted Eli Lilly and Co. (NYSE:LLY) exclusive, worldwide rights to Sigilon's Type I diabetes program in a deal potentially worth over $470 million.

Lilly will pay Sigilon $63 million up front and up to $410 million in development and commercial milestones. The pharma will also make an undisclosed investment in Sigilon, which is eligible for tiered royalties ranging from the single to double digits...