Eli Lilly (NYSE:LLY) said today that it pledged up to $52 million to Purdue University as part of a 5-year research agreement. The deal is Purdue’s largest strategic collaboration with a single company, according to the university.
The group is slated to focus on improving the delivery of injectable medications with the goals of reducing pain and the frequency of injection. The researchers also plan to develop predictive models that can predict the outcomes of new therapies and lower the risks associated with investing in drug development.
“Purdue has enjoyed a long history of engagement with Lilly. Now Lilly and Purdue University are entering into a new level of collaboration that will move us forward in areas core to both institutions,” Purdue President Mitch Daniels said in prepared remarks. “Our investment on campus in the life sciences announced in 2016 is leading to just the types of impact we hoped to effect.”
“The biomedical revolution is upon us, but harnessing its full potential will require strong collaboration between academic research centers and industry partners,” Lilly’s chairman, president & CEO David Ricks said. “We look forward to expanding our relationship with Purdue as we work together to discover breakthrough solutions for patients.”
Researchers from Eli Lilly plan to work with Purdue researchers from the natural and physical sciences, as well as from engineering and veterinary medicine, the company reported.
“This strategic agreement links our two organizations in a commitment to scientific research supporting the global needs of patients,” Andrew Dahlem, VP and chief operating officer of Lilly Research Laboratories, said. “In addition, our collaboration strengthens our shared commitment to attract and retain the top engineering and technology talent in Indiana.”
“Purdue University’s investment in the life sciences last year has undoubtedly increased opportunities for engagement with industry partners,” Suresh Garimella, Purdue’s executive VP for research and partnerships, added. “This agreement with one of the most prominent companies headquartered in the state of Indiana is a particular point of pride. The collaboration was structured from the inception to be coordinated by the leadership at Lilly and Purdue to ensure relevance and unprecedented collaboration among teams of university and company researchers.”