Anacor Pharmaceuticals has developed the first candidate under its animal health research agreement with Eli Lilly.Under the contract, the companies will explore the usage of Anacor’s boron chemistry to discover products for a variety of animal health applications. The research is funded by Eli Lilly which is also responsible for future development and commercialization of the products that will be developed under this deal.The tie up allows Anacor to get around $1m payment for reaching milestone.Eli Lilly is also responsible to pay additional development and regulatory milestones to Anacor including tiered royalties from the high single digits to low double digits on future sales.
