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MADISON, Wisconsin - October 11, 2000. SLIL Biomedical Corp. announced today that it has signed an agreement with Elanco Animal Health, a division of Eli Lilly and Company. The deal is specifically for veterinary and other animal health indications of SLIL’s drug discovery pipeline. The animal health market has a worldwide sales value in excess of $15 billion. "Already, SLIL's drug discovery program has generated 16 lead compounds for animal health indications," said Peter Molloy, SLIL President and CEO. SLIL’s efforts have been aimed primarily at human cancer indications. However, several of its novel compounds have also shown promise as therapeutic agents in animal health. The licensing and R&D collaboration with Elanco will focus on developing SLIL’s compounds as potential treatments for animal health diseases. Under the terms of the agreement, Elanco will provide SLIL with an undisclosed up-front payment, plus milestone payments at several development stages and royalties on eventual sales. Lilly will also receive an option to make an equity investment in SLIL. "This agreement will be of significant value to SLIL," said Mr. Molloy. "It not only provides us with our first agreement with a major pharmaceutical company - and a great partner - but potentially gives us the opportunity to see some of our products in the market at a relatively early stage." SLIL Biomedical Corp. has its headquarters and drug discovery program in Madison, Wisconsin and additional research facilities in Menlo Park, California. For more information, visit the SLIL web site at http://www.slil.com. SOURCE: SLIL Biomedical Corp. Contact: Marla K. Johnson SLIL Biomedical Corp.
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