Eli Lilly and Adocia agree to develop ultra-rapid insulin
PARIS (Reuters) – U.S. drugmaker Eli Lilly and French biotech Adocia said on Friday they agreed a worldwide licensing partnership to develop ultra-rapid insulin to treat patients with Type 1 and Type 2 diabetes. Under the deal, Adocia will receive an upfront fee of $50 million, potential future payments of up to $280 million if BioChaperone Lispro reaches certain development and regulatory milestones, and sales milestones up to $240 million, the companies said in a statement. (Reporting by James Regan; Editing by Blaise Robinson)