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Lilly/Glycomed research agreement

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Executive Summary

Glycomed signed a three-year agreement with Lilly to discover and develop new therapies for the cardiovascular disease, vascular restonosis. Lilly will fund a drug discovery program at Glycomed and conduct R&D efforts at Lilly Research Labs. Lilly retains the rights to produce and market products resulting from research. Glycomed researches complex carbohydrates for development of new drugs. In addition, Lilly has acquired a 10% equity stake in the privately held, Alameda, California-based firm.

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