Aduro Bio out-licenses cGAS-STING inhibitor program to Eli Lilly

Aduro Biotech (NASDAQ:ADRO) is up 32% after hours in response to its licensing deal with Eli Lilly (NYSE:LLY) for its cGAS-STING Pathway Inhibitor program for the potential treatment of autoimmune and inflammatory disorders.

Under the terms of the agreement, Aduro will receive $12M upfront, up to $620M in milestones per product and single-to-low-double-digit royalties on net sales. Aduro will also receive research funding and has the option to co-fund development of each product in exchange for higher royalties.

STING-related ticker: (NYSE:MRK)

Previously: Investors underwhelmed with Aduro’s early-stage data on STING candidate; shares down 11% (Nov. 9)

https://seekingalpha.com/news/3418021-aduro-bio-licenses-cgas-sting-inhibitor-program-eli-lilly-shares-32-percent-hours