8-KLeadership ChangesExhibits & Filings

ELI LILLY & Co 8-K Report, Executive Changes (Aug 25, 2021)

Filed August 25, 2021For Securities:LLY

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.

Frequently Asked Questions

Eli Lilly has entered into a multi-year research collaboration and licensing agreement with Lycia Therapeutics, Inc. The specifics of the research focus are not detailed in this 8-K, but it indicates a strategic partnership to advance new therapeutic approaches.

Carolyn R. Bertozzi resigned from Eli Lilly's Board of Directors effective August 23, 2021, due to Eli Lilly's entry into a research collaboration and licensing agreement with Lycia Therapeutics, of which she is the academic founder. The company explicitly stated that her resignation did not stem from any disagreements with Eli Lilly on any matters related to its operations, policies, or practices.

The filing clarifies that Dr. Bertozzi's resignation was not due to any disagreements. Given her role as the academic founder of Lycia Therapeutics, her departure from the board is likely a procedural outcome of the new collaboration and potentially allows her to focus more intently on the Lycia-based research, which could be a positive for the collaboration's progress.