Summary
Eli Lilly and Company (LLY) announced a significant development through a multi-year research collaboration and licensing agreement with Lycia Therapeutics, Inc. This strategic partnership aims to advance innovative therapeutic approaches. As a consequence of this new agreement, a key member of the Board of Directors, Carolyn R. Bertozzi, has resigned. Dr. Bertozzi, who is also the academic founder of Lycia Therapeutics, stepped down from the Board effective August 23, 2021. The company has clarified that her resignation is not due to any disputes or disagreements regarding the company's operations or policies. This move signifies a potential shift in focus for Dr. Bertozzi and may indicate Lilly's commitment to exploring novel research avenues through this collaboration.
Key Highlights
- 1Eli Lilly entered a multi-year research collaboration and licensing agreement with Lycia Therapeutics, Inc.
- 2Carolyn R. Bertozzi, academic founder of Lycia Therapeutics, resigned from Eli Lilly's Board of Directors.
- 3Dr. Bertozzi's resignation was effective August 23, 2021.
- 4The resignation is explicitly stated as not being due to any disagreement with the Company regarding operations, policies, or practices.
- 5The company issued a press release on August 25, 2021, to announce Dr. Bertozzi's resignation.
- 6This filing includes Exhibit 99.1, the press release announcing the resignation.