On August 25, 2022 Aclaris Therapeutics, Inc. (NASDAQ: ACRS), a clinical-stage biopharmaceutical company focused on developing novel drug candidates for immuno-inflammatory diseases, reported a non-exclusive patent license agreement with Eli Lilly and Company (Lilly) (Press release, Aclaris Therapeutics, AUG 25, 2022, View Source [SID1234618644]).

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Under the license agreement, Aclaris granted Lilly non-exclusive rights under certain patents and patent applications that Aclaris exclusively licenses from The Trustees of Columbia University in the City of New York, for the use of baricitinib, Lilly’s JAK inhibitor, to treat alopecia areata (AA). The agreement includes an upfront payment, regulatory and commercial milestones, and royalties.

"We are pleased to sign this patent license agreement with Lilly," said Jim Loerop, Chief Business Officer of Aclaris. "We believe access to this patent portfolio is necessary for anyone intending to commercialize any JAK inhibitor to treat AA. We have spent considerable resources in licensing and prosecuting our JAK inhibitor patent portfolio and we intend to continue to pursue opportunities provided to us by these patent rights."

Financial terms are not disclosed.