Sigilon, a Cambridge, MA-based biopharmaceutical company focused on discovering and developing living therapeutics with its Afibromer™ technology product platform, received an investment from Eli Lilly and Company (NYSE: LLY), a global biopharmaceutical company and a worldwide leader in diabetes care.
The two companies also announced a global collaboration to develop encapsulated cell therapies for the potential treatment of type 1 diabetes. Under the terms of the agreement, Lilly will receive an exclusive worldwide license to Sigilon’s Afibromer technology for islet cell encapsulation. Sigilon will receive an upfront payment of $63m and Lilly will make an undisclosed equity investment in Sigilon. Sigilon is also eligible to receive up to $410m in development and commercialization milestones, as well as single to double digit tiered royalties on future product sales should the collaboration yield a commercially successful product. Sigilon will be responsible for all development activities and costs related to the collaboration until submission of an investigational new drug application (IND). After an IND is submitted, Lilly will be responsible for all clinical development and commercialization activities and costs related to the collaboration.
Led by Paul Wotton, Ph.D., Chief Executive Officer of Sigilon Therapeutics is a biopharmaceutical company that discovers and develops immune-privileged living therapeutic implants for the treatment of chronic diseases. It was founded and created by Flagship Pioneering, a life science innovation firm, which unveiled the company in 2017 with $23.5m in capital.