News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter

BIO2015: Eli Lilly (LLY) Expands Scope of Open Innovation Drug Discovery Program, Exec Tells BioSpace (DHX)

7/9/2015 10:18:19 AM

BIO2015: Eli Lilly Expands Scope of Open Innovation Drug Discovery Program, Exec Tells BioSpace
July 9, 2015
By Riley McDermid, Breaking News Sr. Editor

Eli Lilly and Company (LLY)’s newly expanded scope of its Open Innovation Drug Discovery program for investigators at qualified universities, institutes and small biotech firms will accelerate drug delivery globally for all participants, a Lilly exec told BioSpace this week.

“The Open Innovation Drug Discovery platform truly is one-of-a-kind as participation is open to any scientist at eligible research universities, research institutes and small biotechnology companies,” Alan D. Palkowitz, vice president of discovery chemistry research and technologies at Lilly, told BioSpace in a wide-ranging interview.

Lilly’s collaborative program unites global researchers with the company’s scientists find innovative solutions to difficult-to-treat diseases. As part of that collaboration, Jimmy Wu, an associate professor of chemistry at Dartmouth University, recently secured a $1.5 million grant from the National Institute of Health (NIH) as a result of his work in Open Innovation Drug Discovery.

Palkowitz said that Wu worked independently (without a Lilly collaboration agreement), and by leveraging the program data, he was able to obtain a patent.
  Related Jobs  
  Scientific Data Manager - Invitae
  Senior Scientist - Mylan
  Director, Clinical Operations - OXiGENE
  Research Associate II - Synthetic Genomics
  Associate Scientist II - MedImmune
  Mechanical Engineer II - Bio-Rad
  View More Jobs

“This broad playing field enhances collaboration efforts between Lilly and scientists around the world to ultimately accelerate drug discovery,” he said.

Eli Lilly said the OIDD platform has several perks that scientists and researchers will enjoy. Participation is open to any scientist at eligible research universities, research institutes and small biotechnology companies. Lilly also provides access to the company’s research, including tools and data that can help advance a participant’s own scientific work.

But perhaps most attractive? The program offers control of the process to the individual participants—including intellectual property rights and input once a collaborative agreement is signed.

“This program provides real-time answers--within 24 hours to investigators and hosts on-demand status information and publication-quality data,” said the company in a statement.

As New Jersey Biotech Booms, Will It Overtake Other States As Prime Location?
A week after Celgene Corporation (CELG) announced it is officially the mystery buyer of Merck & Co. (MRK)’s former 1 million-square-foot R&D site in Summit, N.J., it quickly became our most popular story last week.

The company announced last Wednesday that it is buying the space, ending months of speculation about what Big Pharma company might move into the neighborhood.

The Summit, N.J. site is zoned research/office. The New Jersey site would put operations closer to some of the major biotech and pharmaceutical hubs on the East Coast.

But, by far, the most tempting part of doing business in the state remains New Jersey’s operating tax credit, which allows companies to sell their net operating losses to the New Jersey Treasury. One of the state’s most recognizable biotechs, Celgene, used the program until it became profitable, which was key to it staying in the state, said local officials.

That has BioSpace is wondering if New Jersey is becoming the new face of biotech. What do you think? Can the Garden State compete with other longtime stalwarts like California or Boston?

Read at

comments powered by Disqus