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Lilly's Mirror Portfolio secures molecules

Eli Lilly and Company has announced that its Mirror Portfolio has acquired two molecules
Eli Lilly and Company has announced that its Mirror Portfolio, a concept created to access innovation being developed outside the company's walls, has acquired two molecules.

One of the independent venture capital firms participating in the Mirror Portfolio has acquired the molecules and will oversee the next stage of their development. The first is a molecule developed pre-clinically by researchers at a major academic institution that is being studied as a potential treatment for congestive heart failure; the second molecule was developed by Lilly and is being studied for its potential in bone healing and cancer. 

Through the Mirror Portfolio, virtual companies financed by independent investment funds will acquire molecules, manage the financing and determine the scope, manner of execution and organisation that will conduct the research for early-stage molecules from approximately one year before testing in humans to clinical proof-of-concept, at which point they will be offered for sale to biopharmaceutical companies. 

Jan M Lundberg, executive vice president of science and technology at Lilly and president of Lilly Research Laboratories, said: "Lilly's establishment of the Mirror Portfolio supports our innovation strategy which consists of three key components: molecule uniqueness, speed and cost efficiencies, which together are the cornerstone of our research and development philosophy.

"Seeing the Mirror Portfolio now in action with the entry of these first molecules gives us great confidence in our ability to leverage innovation beyond our walls in order to deliver truly breakthrough medicines for the patients who are waiting," he added.

15th February 2011

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