Eli Lilly (LLY) paid AlzeCure Pharma a $10 million upfront payment and completed the initial transaction under their collaboration and licensing agreement for the Alzheimer's disease project Alzstatin, AlzeCure said Tuesday.

The agreement gives Lilly global rights to Alzstatin, including drug candidate ACD680, and responsibility for its continued clinical development and commercialization.

The deal includes development and commercial milestones and mid-single-digit royalties, with total consideration potentially exceeding $1 billion, excluding royalties.