Eli Lilly and Canada’s BioMS Medical have signed a licensing and development agreement granting Lilly exclusive worldwide rights to BioMS’ MBP8298 for multiple sclerosis (MS).

The compound is being evaluated in two Phase III trials in secondary progressive MS and one Phase II clinical trial in relapsing-remitting MS.

Lilly and BioMS Medical will collaborate on the development of MBP8298 and share in certain development costs. BioMS Medical will receive an upfront payment of $87 million, as well as potential development and milestones of up to $410 million, Eli Lilly said.