Adolor Buys Rights to Eli Lilly's OpRA III Drug Candidate
Tue, 09/22/2009 - 4:56am
EXTON, Pa. (AP) — Biotechnology company Adolor Corp. has bought exclusive worldwide rights to Eli Lilly & Co.'s OpRA III drug candidate, which has a range of potential uses. Adolor will pay $2 million upfront to Indianapolis-based Eli Lilly, along with future royalties and milestone payments potentially worth $70 million. Adolor said it initially intends to develop the drug candidate as a potential opioid bowel dysfunction treatment and will start clinical trials in early 2010. The condition normally refers to chronically constipated patients taking opioid pain drugs. Shares of Adolor rose 1 cent to close at $1.66 while shares of Eli Lilly closed unchanged at $32.86.