Lilly to buy cancer drug developer AurKa Pharma for up to $575 million
AurKa Pharma will receive $110 million upfront and is eligible to earn up to $465 million more if it achieves regulatory and sales milestones.
AurKa’s chief drug under development was discovered by Lilly, but the drugmaker sold the compound in 2016 to TVM Capital Life Science, which established AurKa.
The drug, AK-01, is being studied in early-stage trials to treat multiple types of solid tumors. ■