Mediar Therapeutics and Eli Lilly and Company
Type: License agreement
In-Licensee: Eli Lilly and Company
Out-Licensor: Mediar Therapeutics, Inc.
Focus: MTX-463
Total Payment: $99 million
Milestone payments: $687 million
Royalties: High single digits to low double digits
Financial impact: The global IPF market, valued at USD 4.54 billion in 2024, is projected to grow at a 7.35% CAGR to USD 9.23 billion by 2033, with Eli Lilly entering the space through a licensing deal with Mediar Therapeutics.
Mediar Therapeutics, Inc., a clinical-stage biotechnology company focused on developing first-in-class therapies to halt the progression of fibrosis, has entered into a global licensing agreement with Eli Lilly and Company to advance MTX-463 into Phase 2 clinical development for idiopathic pulmonary fibrosis (IPF). MTX-463 is a novel human IgG1 antibody that targets and neutralizes WISP1-driven fibrotic signaling, implicated in several serious fibrotic diseases. Under the terms of the agreement, Mediar will receive a total of $99 million, comprising an upfront payment and near-term milestone payments. The company is also eligible for up to $687 million in additional development and commercialization milestone payments. Furthermore, Mediar will receive tiered royalties ranging from high single digits to low double digits, along with potential net sales milestones based on future product revenue.
Development of MTX-463 for IPF treatment
Mediar Therapeutics has developed MTX 463, monoclonal antibodies targeting WNT1-Inducible Signaling Protein-1 (WISP1), for the treatment of idiopathic pulmonary fibrosis. WISP1 is overexpressed in human fibrotic diseases and promotes fibrotic markers in vitro, while anti-WISP1 antibodies have been shown to suppress fibrosis in vitro, in vivo, and in ex vivo human explants.
Five years' market revenue of Eli Lilly
Eli Lilly experienced steady revenue growth through 2022; however, a temporary decline occurred in 2023, primarily due to the one-time sale of its Zyprexa portfolio for schizophrenia and bipolar disorder, which distorted year-over-year comparisons. Despite this, the company maintained strong underlying performance, particularly driven by its GLP-1 therapies such as Mounjaro and Zepbound.
In 2024, revenue rebounded, fueled by robust sales of Mounjaro and Zepbound, supported by heightened demand, improved supply, and broader adoption across both diabetes and obesity indications. Additionally, Eli Lilly saw continued growth across other therapeutic areas, including oncology, immunology, and neuroscience. The company's expanding footprint in diabetes care further contributed to its positive financial trajectory.
Five years market revenue of Eli Lilly (2020-2024)
Fig 10: Market revenue of Eli Lilly
Market Impact of This Partnership
The global IPF market was valued at USD 4.54 billion in 2024 and is projected to grow from USD 4.87 billion in 2025 to USD 9.23 billion by 2033, at a compound annual growth rate (CAGR) of 7.35% during the forecast period. Eli Lilly had no prior presence in the IPF therapeutic area before forming a licensing agreement with Mediar Therapeutics. This collaboration marks Lilly’s entry into the IPF market and centers on the advancement of MTX-463, a first-in-class anti-WISP1 monoclonal antibody, into Phase II clinical development. The partnership is expected to contribute positively to Eli Lilly’s future revenue as it expands into this growing and underserved therapeutic space.