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Eli Lilly & Company

Drug Names(s): IC485

Description: IC485 is an orally administered drug that is a selective inhibitor of the type 4 phosphodiesterase (PDE4) enzyme. PDE4 inhibitors attenuate inflammatory processes, including the production of pro-inflammatory mediators such as interleukin-1 and tumor necrosis factor-alpha.

Deal Structure: Icos has entered into a research and development arrangement with Array BioPharma Inc. relating to IC485. Under this arrangement, Icos has funded the medicinal chemistry performed by Array relating to IC485. Icos has received either an assignment of, or a license to, any and all intellectual property developed by Array relating to IC485 in exchange for future milestone payments based on development of this product candidate. Icos has exclusive rights to the worldwide production and commercialization of IC485.

In January 2007, Lilly completed its acquisition of ICOS. As a result of closing the transaction, Lilly has acquired all of the outstanding shares of ICOS common stock at a price of $34 per share, for a total of approximately $2.3 billion.

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