Eli Lilly and Company (NYSE:LLY), Care Capital, NovaQuest Capital formed BioCritica Inc., a Central Indiana-based biotechnology company.
BioCritica will initially focus on the continued U.S. development and commercialization of Xigris® (drotrecogin alfa (activated)), Lilly’s medicine for the treatment of severe sepsis. As part of a licensing agreement, the company will acquire the U.S. development and commercialization rights to Xigris and will also receive the rights to potentially acquire critical care compounds currently in pre-clinical development at Lilly. The collaboration also includes a supply agreement, a services agreement and an option for BioCritica to acquire the development and commercialization rights to Xigris outside the U.S. at a later date.
In return, Lilly will receive royalties on future U.S. sales of Xigris and will also receive an equity stake in BioCritica.
BioCritica is also developing a pipeline of other products.
The creation of the company, which is led by CEO David Broecker, received the support of the Indiana Economic Development Corporation (IEDC) and BioCrossroads.