KC firm lands $45M+ drug licensing deal

Leawood, Kan.-based Aratana Therapeutics Inc. (Nasdaq: PETX) has sold licensing rights for its first Food and Drug Administration-approved drug to a division of pharmaceutical giant Eli Lilly and Co. (NYSE: LLY).

Greenfield, Ind.-based Elanco – Eli Lilly’s animal-health division – now has the rights to develop, manufacture, market and commercialize Galliprant globally under terms of the deal.

Aratana Therapeutics is slated to receive $45 million up front, additional payments for hitting certain development gates, regulatory and sales milestones up to $83 million and co-promotion fees and royalty payments, the Kansas City Business Journal reports, citing a U.S. Securities and Exchange Commission filing.

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