Eli Lilly has signed a multi-year exclusive collaboration deal with Israel-based Anima Biotech, as the drugmaker continues to push for new avenues of drug development.

As part of the agreement, Anima will receive an upfront payment of $30 million and $14 million in research funding, but could potentially get as much as $1.05 billion in milestones.

The multi-year agreement is structured as an exclusive collaboration around several undisclosed Lilly targets. Anima will use its technology platform to discover lead candidates that are translation inhibitors of the Lilly targets. Lilly will be responsible for clinical development and commercialization of products resulting from the collaboration.

Read the press release