Eli Lilly Signs $45 Million Development Deal With U.K.’s Immunocore

July 16, 2014 11:00 AM

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LONDON—British biotech company Immunocore Ltd. has signed a $45 million drug-development deal with Eli Lilly & Co., in the latest sign of big drug makers scrambling to acquire assets in the hot field of immunotherapies.

Closely held Immunocore makes experimental injectable cancer treatments that aim to better direct the body’s T cells—a type of white blood cell that attacks foreign bodies—to kill cancerous cells. Its most advanced product is in clinical trials for late-stage melanoma. The Lilly agreement is for its...

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