Eli Lilly and Company has entered into a strategic collaboration with biotechnology firm Repertoire Immune Medicines in a deal valued at up to USD 1.93 billion to develop novel therapies for autoimmune diseases. The agreement includes an upfront payment of USD 85 million, with the remaining value linked to research, development, regulatory and commercial milestones, along with tiered royalties on future sales.

Under the partnership, the two companies will work to discover and advance precision therapies designed to restore immune balance without broadly suppressing the immune system. The collaboration will leverage Repertoire’s proprietary Decode platform, which maps how T cells recognize disease-related targets, enabling the identification of highly specific therapeutic candidates.

Repertoire will be responsible for early-stage discovery and preclinical research, while Lilly will lead clinical development, regulatory filings, manufacturing and global commercialization of any therapies emerging from the collaboration. The deal strengthens Lilly’s growing immunology and autoimmune disease pipeline, an area of increasing focus as the company looks to diversify beyond its diabetes and obesity portfolio.

Lilly currently markets several immunology treatments addressing conditions such as inflammatory arthritis, psoriasis and inflammatory bowel disease. The company has also been actively pursuing external partnerships and acquisitions to accelerate innovation in immune-mediated disorders and address significant unmet patient needs.

For Repertoire, the collaboration represents a major validation of its technology platform and scientific approach. The company specializes in programmable T-cell receptor therapies and data-driven immune profiling to develop targeted treatments for complex autoimmune conditions.

The partnership reflects a broader industry shift toward precision immunology, as pharmaceutical companies seek next-generation therapies capable of delivering durable disease control with improved safety profiles. The companies said the collaboration aims to advance multiple programs across a range of autoimmune indications.