Lilly’s Venture Strategy Matures As PoC Data Catalysts Approach
As part of a new R&D investment approach, Eli Lilly has partnered with TVM Capital and HealthCare Ventures, which have raised $250 million and funded the start of eight single-molecule companies. Corporate Business Development VP Darren Carroll discussed how the company’s venture initiative has evolved during Elsevier’s Pharmaceutical Strategic Alliance conference Sept. 25.
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Eli Lilly Senior VP-Corporate Business Development Darren Carroll weighed in on pharmaceutical innovation, biotech valuations and the rising bar for external innovation during an interview at the J.P. Morgan Healthcare conference.
In START UP’s third annual Life Science VC Survey, those who invest in biopharmaceuticals are feeling good about the IPO window and the helping hand from corporate VCs, and for the third year in a row, they say oncology and rare diseases are top investment targets. Their skepticism about asset-based financing has grown, however, even as new twists on the model emerge.
Atlas Venture and OrbiMed Advisors have launched a virtual company to support development of a single asset, which Lilly can buy back after a Phase II trial.