Eli Lilly and Company signed an exclusive licensing agreement with Australian biopharma firm CSL.
The agreement covers the monoclonal antibody candidate clazakizumab.
Lilly gains global rights to develop and commercialize the treatment for inflammatory and cardiovascular conditions.
CSL retains exclusive rights to develop clazakizumab for preventing cardiovascular events in patients with end-stage kidney disease.
Lilly will pay CSL $100 million upfront.
CSL remains eligible for future milestone payments and global sales royalties.
CSL shares increased following the announcement.