Lilly cancer drug deal worth up to $520M

Indianapolis-based Eli Lilly and Co. will pay privately held Deciphera Pharmaceuticals LLC of Lawrence, Kan., as much as $520 million to develop and win regulatory approval for four types of cancer drugs, Bloomberg News reported.

The companies will collaborate to develop cancer drugs using a Deciphera discovery that seeks to inhibit an enzyme linked to cancer aggressiveness, the companies announced today.

Lilly will pay Deciphera as much as $130 million, plus sales royalties, in each of the four project areas, the companies said.

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