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Skin-Focused Pharmaceutical Company Licenses Compounds From Eli Lilly

January 08, 2008
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According to the Boston Business Journal, skin-treatment startup Magen BioSciences Inc. has licensed the rights to a number of compounds from drug giant Eli Lilly and Co.

Waltham, Mass.-based Magen did not disclose financial terms, but the deal gives Magen global, exclusive rights to develop potential treatments based on a series of new compounds that haven''t reached human clinical trials yet.

Magen has tapped into the compounds because they have shown promise in treating inflammation, with the theory that they can be used a number of ways to treat dermatological disorders.

Magen launched in 2006 and has since raised more than $17.2 million in venture financing.

The company wants to treat dermatological disorders ranging from psoriasis to scleroderma and seborrheic dermatitis.
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