INDIANAPOLIS and WEST LAFAYETTE, Ind., July 6, 2017 /PRNewswire/ -- Eli Lilly and
Company (NYSE: LLY) and Purdue
University today announced a strategic collaboration to
conduct life science research. The five-year agreement, where Lilly
will provide up to $52 million, marks
Purdue's largest strategic
collaboration with a single company.
"Purdue has enjoyed a long history
of engagement with Lilly. Now Lilly and Purdue
University are entering into a new level of collaboration
that will move us forward in areas core to both institutions," said
Purdue President Mitch Daniels. "Our investment on campus in the
life sciences announced in 2016 is leading to just the types of
impact we hoped to effect."
"The biomedical revolution is upon us, but harnessing its full
potential will require strong collaboration between academic
research centers and industry partners," said David Ricks, Lilly's chairman, president and
chief executive officer. "We look forward to expanding our
relationship with Purdue as we work
together to discover breakthrough solutions for patients."
The initial research focus areas include:
- Developing improved delivery of injectable medicines with the
goals of reducing pain, decreasing the number of injections, and
enabling better patient compliance and overall health.
- Developing predictive models for clinical success that reduce
risks associated with investing in drug development and more
effectively predict the outcome of new therapies in humans.
The collaboration envisions expansion to other areas to further
utilize the range of expertise at the two institutions.
Purdue researchers from the natural
and physical sciences, engineering and veterinary medicine will
contribute to the interdisciplinary collaboration with Lilly
researchers.
"This strategic agreement links our two organizations in a
commitment to scientific research supporting the global needs of
patients," said Andrew Dahlem,
Ph.D., vice president, chief operating officer, Lilly Research
Laboratories. "In addition, our collaboration strengthens our
shared commitment to attract and retain the top engineering and
technology talent in Indiana."
"Purdue University's investment in the life sciences last year
has undoubtedly increased opportunities for engagement with
industry partners," said Suresh
Garimella, Purdue's executive
vice president for research and partnerships and Goodson
Distinguished Professor of Mechanical Engineering.
"This agreement with one of the most prominent companies
headquartered in the state of Indiana is a particular point of pride. The
collaboration was structured from the inception to be coordinated
by the leadership at Lilly and Purdue
to ensure relevance and unprecedented collaboration among teams of
university and company researchers," Garimella said.
About Eli Lilly and Company
Lilly is a global
healthcare leader that unites caring with discovery to make life
better for people around the world. We were founded more than a
century ago by a man committed to creating high-quality medicines
that meet real needs, and today we remain true to that mission in
all our work. Across the globe, Lilly employees work to discover
and bring life-changing medicines to those who need them, improve
the understanding and management of disease, and give back to
communities through philanthropy and volunteerism. To learn more
about Lilly, please visit us at www.lilly.com and
http://newsroom.lilly.com/social-channels. C-LLY
About Purdue
University
Purdue
University, a top public research institution, offers higher
education at its highest proven value. Committed to affordability,
the university has frozen tuition and most fees at 2012-13 levels.
Committed to student success, Purdue is
changing the student experience with greater focus on
faculty-student interaction and creative use of technology.
Committed to pursuing scientific discoveries and engineered
solutions, Purdue has streamlined
pathways for faculty and student innovators who have a vision for
moving the world forward.
This press release contains forward-looking statements (as that
term is defined in the Private Securities Litigation Reform Act of
1995) about the benefits of a strategic collaboration between Lilly
and Purdue University, and reflects
Lilly's current beliefs. However, as with any such
undertaking, there are substantial risks and uncertainties in the
process of drug development and commercialization. Among other
things, there can be no guarantee that Lilly will realize the
expected benefits of the collaboration or that the collaboration
will yield commercially successful products. For a further
discussion of these and other risks and uncertainties that could
cause actual results to differ from Lilly's expectations, please
see Lilly's most recent Forms 10-K and 10-Q filed with the U.S.
Securities and Exchange Commission. Lilly undertakes no duty to
update forward-looking statements.
Refer to: Lauren
Zierke; lauren_zierke@lilly.com; (317) 277-6524 (Lilly)
Brian Zink; bzink@purdue.edu; (765)
494-2080 (Purdue)
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SOURCE Eli Lilly and Company