UK company, BioFocus, witnessed a 10% rise in its share price on the London Stock Exchange yesterday after the firm said that it had signed a deal with Eli Lilly to discover new compounds targeting nuclear hormone receptors.

The exact financial details of the agreement remain undisclosed, but BioFocus is set to receive research fees that it says will “ramp up” as the programme progresses.

The UK company will be using its high throughput screening expertise, to discover compounds that “hit” nuclear hormone receptors.