Shares in Regen BioPharma, Inc (OTCQB: RGBP, OTCQB: RGBPP) shot higher as the firm announced it had entered into a definitive agreement with Eli Lilly and Co (NYSE:LLY).
Regen will receive compounds from Lilly for drug discovery purposes, as well as share structural information on compounds.
It also paves the way for the two companies to negotiate future compound purchase agreements, license agreements, and research collaboration agreements.
“They understand the value of partnering in a confidential manner with smaller entities that may have intellectual property that aligns with their product goals,” Harry Lander, president and chief scientific officer of Regen said.
As part of the deal, Regen will examine 21,000 Lilly-owned compounds in its NR2F6 high-throughput screening program.
NR2F6 is a molecular switch known as an "orphan nuclear receptor," which controls genes associated with the immune response as well as genes associated with the ability of cancer stem cells to propagate.
