Lilly Signs Agreements to Form Biotech Company

Eli Lilly and private investors Care Capital and NovaQuest Capital agreed to jointly create a biotechnology company to focus on Lilly's severe sepsis drug Xigris.

Eli Lilly and Company has signed agreements with private investors Care Capital and NovaQuest Capital to establish BioCritica Inc., a newly-formed and privately-held biotechnology company.

BioCritica will initially focus on the continued U.S. development and commercialization of Xigris, Lilly's medicine for severe sepsis. BioCritica intends to ultimately build a broad portfolio of innovative, hospital-based critical care medicines.

As part of a licensing agreement, BioCritica will acquire the U.S. development and commercialization rights to Xigris and will also receive the rights to potentially acquire several critical care compounds currently in pre-clinical development at Lilly. The collaboration also includes a supply agreement, a services agreement and an op