Confo Therapeutics Announces Global Licensing Agreement with Lilly for Peripheral Pain Candidate, CFTX-1554

Confo Therapeutics Announces Global Licensing Agreement with Lilly for Peripheral Pain Candidate, CFTX-1554

• Confo to receive upfront and milestone payments totalling US$ 630M

• Company is eligible for up to US$ 590M in additional milestones if Lilly proceeds with a second product candidate

• Tiered royalties payable to Confo on net sales

• Confo to have a co-investment option

Confo Therapeutics, a leader in the discovery of medicines targeting G-protein coupled receptors (GPCRs), today announced a worldwide licensing agreement with Eli Lilly and Company for Confo’s clinical stage CFTX-1554 and back-up compounds.

CFTX-1554, a novel inhibitor of the angiotensin II type 2 receptor (AT2R) currently in Phase 1 clinical development, represents a non-opioid approach to treating neuropathic pain, a devastating condition caused by damage to the nerves outside of the brain and spinal cord, and potentially additional peripheral pain indications. Current treatment methods are often insufficiently effective and can lead to serious side effects including addiction. Patients suffering from peripheral pain are therefore in urgent need of effective analgesics that are well-tolerated and do not impact quality of life.

Under the terms of the agreement, Lilly will continue the clinical development program beyond Phase 1. In addition, the agreement considers a program to further develop Confo’s existing therapeutic antibody candidates targeting the same receptor. Confo will receive a US$ 40 million upfront payment from Lilly as well as up to US$ 590 million in potential milestone payments per program and tiered royalties. Confo maintains a co-investment option to participate in the funding of future development programs after clinical proof-of-concept for additional royalties.

Cedric Ververken, CEO of Confo Therapeutics, said:

• We are pleased that Lilly, an expert in chronic pain with a wealth of experience in bringing novel therapies to patients, has recognized Confo’s ability to develop best-in-class GPCR drug candidates. CFTX-1554’s progression through the clinic will benefit from Lilly’s experience and global organization, while we will continue to develop and expand our growing, innovative pipeline of GPCR-targeted assets, both small molecules and biologics.”