Camurus announces expansion of Lilly collaboration

Rhea-AI Summary

Camurus (NASDAQ STO: CAMX) announced that Eli Lilly has exercised its option to add amylin receptor agonists to their existing 2025 collaboration and license agreement using Camurus' FluidCrystal® technology.

The deal now covers up to four Lilly compounds and includes up to 290 million USD in development and regulatory milestones, 580 million USD in sales-based milestones, tiered mid-single digit royalties, and a 5 million USD option payment.

Positive

• Collaboration expanded to include amylin receptor agonists with FluidCrystal technology
• Agreement covers up to four proprietary Lilly drug compounds across three classes
• Eligibility for up to 290 million USD in development and regulatory milestone payments
• Eligibility for up to 580 million USD in sales-based milestone payments
• Tiered mid-single digit royalties on product sales plus 5 million USD option payment

Negative

• None.

News Market Reaction – CAMX

-0.43%

-0.43% Session close to close

In the Jun 1 session, CAMX declined 0.43%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement extends Lilly’s exclusive, global access to FluidCrystal® technology across up to ...

Analysis

This announcement extends Lilly’s exclusive, global access to FluidCrystal® technology across up to four compounds in three cardiometabolic classes and adds amylin receptor agonists, bringing potential milestones of 290 million USD for development and regulatory progress and 580 million USD tied to sales. In the background, Oclaiz has a PDUFA date of 10 June 2026. Investors may watch collaboration milestones, regulatory outcomes, and the breadth of FluidCrystal®’s adoption as key markers.

Key Figures

Dev/reg milestones: 290 million USD Sales milestones: 580 million USD Option payment: 5 million USD +5 more

8 metrics

Dev/reg milestones 290 million USD Upfront development and regulatory milestone payments under Lilly agreement

Sales milestones 580 million USD Sales-based milestone payments under Lilly collaboration

Option payment 5 million USD Initial payment triggered by Lilly’s option exercise

Lilly compounds 4 compounds Up to four proprietary Lilly drug compounds in collaboration

Compound classes 3 classes Dual GLP-1/GIP, triple GLP-1/GIP/glucagon, and amylin receptor agonists

Clinical studies 7 studies Data supporting Oclaiz NDA resubmission, including Phase 3 ACROINNOVA trials

Phase 3 trials 2 trials Two Phase 3 ACROINNOVA trials for Oclaiz

PDUFA date 10 June 2026 Target action date for Oclaiz NDA resubmission

Historical Context

1 past event · Latest: Jan 09 (Positive)

Pattern 1 events

Date	Event	Sentiment	24h Move	Catalyst
Jan 09	Regulatory milestone	Positive	+0.5%	FDA acceptance of Oclaiz NDA resubmission with PDUFA date set.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Limited history shows a modest positive price reaction to prior regulatory milestone news.

Recent Company History

In the last six months, CAMX reported FDA acceptance of the NDA resubmission for Oclaiz™, with a PDUFA date of 10 Jun 2026 and support from seven clinical studies, including two Phase 3 trials. That announcement saw a small positive move of 0.47%. Today’s news instead centers on expanding Lilly’s use of FluidCrystal® technology into additional cardiometabolic drug classes, extending an existing collaboration rather than advancing Oclaiz specifically.

Key Terms

amylin receptor agonists, glp-1, gip, glucagon receptor agonists, +4 more

8 terms

amylin receptor agonists medical

"include amylin receptor agonists (amylin) in the collaboration"

Amylin receptor agonists are drugs that mimic the natural hormone amylin and activate cell receptors that help regulate appetite, digestion and blood sugar levels. Investors watch them because successful candidates can address large markets such as diabetes and obesity, and their value depends heavily on clinical trial results, safety, regulatory approval and competitive positioning—similar to how a proven new tool can unlock significant commercial opportunities.

glp-1 medical

"dual GLP-1 and GIP and receptor agonists, triple agonists for GLP-1, GIP"

GLP-1 (glucagon-like peptide-1) is a natural hormone in the body that helps regulate blood sugar levels and appetite. Its significance to investors lies in its role as the basis for a class of medications that address conditions like type 2 diabetes and obesity, which are large and growing markets. Advances or investments in GLP-1-based treatments can signal opportunities in healthcare innovation and potentially impact pharmaceutical companies’ growth.

gip medical

"dual GLP-1 and GIP and receptor agonists, triple agonists for GLP-1, GIP"

GIP commonly stands for Global Infrastructure Partners, a private investment firm that buys and manages large physical assets such as airports, power plants, toll roads and pipelines. Investors pay attention because when GIP acquires, invests in, or sells such assets it can alter cash flow, debt levels and long-term plans for those businesses—like a new landlord changing rents or making upgrades—affecting revenue, dividends and risk for shareholders and creditors.

glucagon receptor agonists medical

"triple agonists for GLP-1, GIP and glucagon receptor agonists"

Drugs that activate the glucagon receptor, a protein on cells that tells the body to raise blood sugar and burn stored energy; think of them as a key fitting a lock to shift the body’s metabolism. They are being developed to treat conditions like diabetes and obesity, so trial results, approvals, or safety signals can materially affect drugmakers’ revenues and stock prices by changing market size, prescribing use, and regulatory risk.

fluidcrystal® technology technical

"rights to Camurus' FluidCrystal® technology for the development"

A proprietary formulation platform that uses lipid-based, organized liquid-crystal structures to carry and release active drug or cosmetic ingredients more predictably and efficiently. Think of it as smart packaging for molecules: it can improve how well an ingredient dissolves, protect it from breakdown, and control where and how fast it is released in the body or on the skin. Investors care because such a platform can boost product performance, extend patent value, lower dosing or side effects, and create a competitive advantage in development and commercialization.

nda regulatory

"announced the FDA accepted the resubmission of the NDA for Oclaiz™"

An NDA, or nondisclosure agreement, is a legal contract that keeps certain information private between parties. It’s like a promise not to share sensitive details, helping protect business ideas, strategies, or data from being leaked or used without permission. For investors, NDAs help ensure that confidential information remains secure, enabling trust and open communication during business discussions.

pdufa regulatory

"and set a PDUFA target action date of 10 June 2026"

PDUFA is the Prescription Drug User Fee Act, the U.S. law under which drug companies pay fees that fund the FDA's review of new medicines. In company news the term usually appears as the PDUFA date, the target deadline by which the FDA aims to decide on a drug application; that date tells investors when to expect the approval or rejection decision for the product.

cgmp regulatory

"Complete Response Letter related solely to observations from a cGMP inspection"

cGMP (current Good Manufacturing Practice) are government-enforced quality standards that manufacturers must follow to ensure drugs, medical devices, and related products are made consistently, safely, and meet specified quality tests. For investors, cGMP compliance is like a restaurant passing health inspections: it reduces the risk of product recalls, regulatory fines, or production stoppages that can hurt revenue and company value, and it supports market access and long-term trust.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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LUND, Sweden, June 1, 2026 /PRNewswire/ -- Camurus (NASDAQ STO: CAMX) today announced that Eli Lilly and Company ("Lilly") has exercised its option to include amylin receptor agonists (amylin) in the collaboration and license agreement entered in June 2025. The decision extends Lilly's exclusive, global rights to Camurus' FluidCrystal^® technology for the development and commercialization of long acting cardiometabolic drug medicines to an additional compound class.

The agreement comprises up to four proprietary Lilly drug compounds across three classes: dual GLP-1 and GIP and receptor agonists, triple agonists for GLP-1, GIP and glucagon receptor agonists, and amylin receptor agonists.

"Lilly's decision to exercise the option validates our technology, broadens our partnership and extends FluidCrystal into the expanding field of amylin therapeutics", said Fredrik Tiberg, President and CEO of Camurus. "We are very pleased with how the collaboration with Lilly is progressing."

Under the agreement, Camurus is eligible to receive up to 290 million USD in upfront development and regulatory milestone payments, as well as 580 million USD in sales-based milestone payments, in addition to tiered mid-single digit royalties on product sales. The option exercise triggers a 5 million USD initial payment to Camurus and is subject to milestone payments and the same royalty levels as the other compounds in the collaboration.

For more information
Fredrik Tiberg, President & CEO
Tel. +46 (0)46 286 46 92
fredrik.tiberg@camurus.com  

Fredrik Joabsson, Chief Business Development Officer
Tel. +46 (0)70 776 17 37
ir@camurus.com

About FluidCrystal
Camurus' proprietary FluidCrystal technology is designed to deliver therapeutic levels of drug substance over extended periods - from days to months - with a single injection using a prefilled syringe or autoinjector pen. Upon contact with bodily fluids in the tissue, the lipid solution transforms into a liquid crystalline gel that quickly and effectively encapsulates the active ingredient. As the liquid crystalline matrix gradually degrades in the tissue, the drug is slowly released. The technology is commercially and regulatory validated by market approvals and product sales in Europe, the US, and Australia.

About Camurus
Camurus is an international, science-led biopharmaceutical company committed to developing and commercializing innovative, long-acting medicines for improving the lives of patients with severe and chronic diseases. New drug products with best-in-class potential are conceived based on the company's proprietary FluidCrystal^® technology and its extensive R&D expertise. The R&D pipeline includes products for the treatment of dependence, pain, cancer, and endocrine diseases. Camurus has operations across Europe, the US, and Australia, with headquarters in Lund, Sweden. The company's shares are listed on Nasdaq Stockholm under the ticker CAMX. For more information, visit www.camurus.com and LinkedIn.

This information is information that Camurus AB is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the managing director, at 5.00 pm CET on 1 June 2026.

CONTACT:

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/camurus-ab/r/camurus-announces-expansion-of-lilly-collaboration,c4355986

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Press release

View original content:https://www.prnewswire.com/news-releases/camurus-announces-expansion-of-lilly-collaboration-302787269.html

SOURCE Camurus AB

FAQ

What did Camurus (CAMX) announce about its collaboration with Eli Lilly on June 1, 2026?

Camurus announced that Eli Lilly exercised its option to include amylin receptor agonists in their existing collaboration. According to Camurus, this extends Lilly’s exclusive global rights to FluidCrystal technology for additional long-acting cardiometabolic medicines across multiple advanced peptide drug classes.

How many Eli Lilly compounds are covered in the expanded Camurus (CAMX) FluidCrystal collaboration?

The expanded collaboration covers up to four proprietary Eli Lilly drug compounds. According to Camurus, these span three classes: dual GLP-1/GIP receptor agonists, triple GLP-1/GIP/glucagon receptor agonists, and the newly added amylin receptor agonists for long-acting cardiometabolic therapies.

What potential milestone payments can Camurus (CAMX) receive from its Lilly FluidCrystal agreement?

Camurus can receive up to 290 million USD in development and regulatory milestones and 580 million USD in sales-based milestones. According to Camurus, these payments are tied to progress and commercial performance of Lilly’s covered cardiometabolic drug candidates using FluidCrystal technology.

What immediate financial impact does Lilly’s option exercise have for Camurus (CAMX) shareholders?

The option exercise triggers an immediate 5 million USD payment to Camurus. According to Camurus, this payment comes in addition to eligibility for substantial milestone payments and tiered mid-single digit royalties on future product sales from the expanded cardiometabolic collaboration with Eli Lilly.

What royalty terms did Camurus (CAMX) disclose in its expanded Eli Lilly collaboration?

Camurus disclosed tiered mid-single digit royalties on product sales from Lilly’s covered compounds. According to Camurus, the newly added amylin receptor agonists are subject to the same royalty levels and milestone structure as the other drug classes in the collaboration.

How does adding amylin receptor agonists affect Camurus (CAMX) FluidCrystal strategy with Lilly?

Adding amylin receptor agonists broadens the application of FluidCrystal into the field of amylin therapeutics. According to Camurus, Lilly’s option exercise both validates the technology and extends the existing cardiometabolic partnership to an additional, expanding compound class.