Aclaris Therapeutics Announces Patent License Agreement with Lilly for Alopecia Areata
Aclaris Therapeutics (NASDAQ: ACRS) announced a non-exclusive patent license agreement with Eli Lilly for the use of baricitinib, a JAK inhibitor, to treat alopecia areata.
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Rhea-AI Summary
Aclaris Therapeutics (NASDAQ: ACRS) announced a non-exclusive patent license agreement with Eli Lilly for the use of baricitinib, a JAK inhibitor, to treat alopecia areata. The deal includes an upfront payment, regulatory and commercial milestones, and royalties. Jim Loerop, Chief Business Officer, emphasized the significance of the patent portfolio for commercialization, highlighting Aclaris' investment in its JAK inhibitor patents. Financial terms remain undisclosed, but the partnership positions Aclaris favorably within the competitive landscape of immuno-inflammatory disease treatments.
Positive
- Non-exclusive patent license agreement with Eli Lilly for baricitinib expands market potential.
- Agreement includes upfront payments, milestones, and royalties, enhancing revenue prospects.
- Strengthens Aclaris' position in the treatment of alopecia areata.
Negative
- None.
Details
News Market Reaction – ACRS
The recorded move for ACRS in the trading session of this news was +5.26%.
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WAYNE, Pa., Aug. 25, 2022 (GLOBE NEWSWIRE) -- Aclaris Therapeutics, Inc. (NASDAQ: ACRS), a clinical-stage biopharmaceutical company focused on developing novel drug candidates for immuno-inflammatory diseases, today announced a non-exclusive patent license agreement with Eli Lilly and Company (Lilly).
Under the license agreement, Aclaris granted Lilly non-exclusive rights under certain patents and patent applications that Aclaris exclusively licenses from The Trustees of Columbia University in the City of New York, for the use of baricitinib, Lilly’s JAK inhibitor, to treat alopecia areata (AA). The agreement includes an upfront payment, regulatory and commercial milestones, and royalties.
“We are pleased to sign this patent license agreement with Lilly,” said Jim Loerop, Chief Business Officer of Aclaris. “We believe access to this patent portfolio is necessary for anyone intending to commercialize any JAK inhibitor to treat AA. We have spent considerable resources in licensing and prosecuting our JAK inhibitor patent portfolio and we intend to continue to pursue opportunities provided to us by these patent rights.”
Financial terms are not disclosed.
About Aclaris Therapeutics, Inc.
Aclaris Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing a pipeline of novel drug candidates to address the needs of patients with immuno-inflammatory diseases who lack satisfactory treatment options. The company has a multi-stage portfolio of drug candidates powered by a robust R&D engine exploring protein kinase regulation. For additional information, please visit www.aclaristx.com.
Cautionary Note Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “intend,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on Aclaris’ current beliefs and expectations. These forward-looking statements include Aclaris’ expectations regarding its JAK inhibitor patent portfolio. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include uncertainties inherent in the conduct of clinical trials, Aclaris’ reliance on third parties over which it may not always have full control, Aclaris’ ability to enter into strategic partnerships on commercially reasonable terms, the uncertainty regarding the COVID-19 pandemic and other risks and uncertainties that are described in the Risk Factors section of Aclaris’ Annual Report on Form 10-K for the year ended December 31, 2021 and other filings Aclaris makes with the U.S. Securities and Exchange Commission from time to time. These documents are available under the “SEC Filings” page of the “Investors” section of Aclaris’ website at www.aclaristx.com. Any forward-looking statements speak only as of the date of this press release and are based on information available to Aclaris as of the date of this release, and Aclaris assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.
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