Lilly’s Mirror Portfolio Marks Milestone

A venture capital firm involved in Lilly’s Mirror Portfolio, a concept created by Lilly to access innovation developed outside the company, has acquired two molecules and will oversee further development. The first is a molecule developed at a major academic institution that is being studied as a potential treatment for congestive heart failure. The second molecule, developed by Lilly, is being studied for its potential in bone healing and cancer. Chorus, Lilly’s virtual development organization, will conduct the studies for the two molecules at the companies’ direction.

Through the Mirror Portfolio, virtual companies financed by independent investment funds will acquire molecules, manage financing, determine manner of execution, and particular organization, that will conduct the research for early-stage molecules to clinical proof-of-concept, at which point they will be sold.

“The licensing of these molecules by the independent funds is an important milestone for the Mirror Portfolio. Working with venture capital to make the concept of the Mirror Portfolio a reality is one way Lilly is ‘innovating on innovation’ as we strive to support the development of new medicines for the benefit of patients around the world,” said Robert W. Armstrong, vice president, global external R&D, Lilly. “Another benefit of the Mirror Portfolio is that it provides access to capital, capacity, capability and deep disease expertise that can be focused on developing molecules generated in research institutions or biotechnology companies, with the potential for rights to successful molecules to be purchased by Lilly.” @font-face { font-family: “Times”; }@font-face { font-family: “Cambria”; }@font-face { font-family: “Optima”; }p.MsoNormal, li.MsoNormal, div.MsoNormal { margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: “Times New Roman”; }p { margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: “Times New Roman”; }div.Section1 { page: Section1; }