Biograil and Lilly Sign Collaboration and License Agreement
COPENHAGEN, DENMARK, October 4th, 2022 – Biograil ApS, a Copenhagen based biotech company developing a unique oral device for delivery of therapeutics that would otherwise be administered by injection, has signed a Collaboration and License Agreement with Eli Lilly and Company. The agreement includes an upfront payment, research funding, development milestones, royalties, and an equity investment by Lilly in Biograil.
Under the agreement, Lilly and Biograil will work together to advance BIONDDTM, the Biograil drug delivery technology, seeking to achieve effective oral drug delivery for therapeutics which cannot be absorbed from an ordinary tablet or capsule.
Biograil CEO Karsten Lindhardt said: “Our Lilly colleagues have been enthusiastic and supportive in the promises of the BIONDDTM platform technology, and we look forward to working with Lilly experts in progressing the technology. This commitment from Lilly is an important next step for Biograil in our vision of making the BIONDDTM platform the preferred technology for oral delivery of biologics. We look forward to advancing the BIONDDTM technology and the potential for Lilly to utilize such technology with key Lilly compounds. Providing patients with additional oral delivery options has been a strong goal for our Company and for the pharmaceutical industry for many years”
About Biograil ApS
Biograil is a Copenhagen based biotech company developing pharmaceutical products based upon the BIONDDTM device contained in a standard size capsule able to deliver active therapeutics into the gastrointestinal wall to be effectively distributed in the human body. Such therapeutics can be currently marketed products, including multi- billion-dollar injectable pharmaceuticals or new chemical entities that cannot otherwise be delivered orally. The Biograil device uses a novel mechanism to facilitate the delivery of active substances i.e., biologics efficiently into the gastrointestinal wall utilizing a proprietary platform technology manufactured by injection molding. The team behind Biograil is a combination of seasoned entrepreneurs with long experience in creating successful biotech companies as well as R&D executives behind the world’s first injection molded oral tablet approved by the FDA. The Biograil investor syndicate is formed by Megatrend Invest (Denmark), Verve Investment (Switzerland), High-Tech Gründerfonds (Germany), Sanner Ventures (Germany) and Evonik Venture Capital (Germany).