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KeyBioscience's DACRA pipeline bought by Eli Lilly for $55M-plus

KeyBioscience and Eli Lilly and Co. agreed to work together to develop treatments for type 2 diabetes and other metabolic disorders using KeyBioscience's dual amylin calcitonin receptor agonists platform. Eli Lilly will purchase global rights to the DACRA pipeline, and KeyBioscience will get a $55 million initial payment and is eligible to receive undisclosed milestone payments as well as royalties on future sales.

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