Eli Lilly & Co. LLY, +2.43% announced Wednesday a collaboration agreement with Sigilon Therapeutics to develop cell therapies for the treatment of type 1 diabetes. Under terms of the agreement, Lilly will pay Siligon $63 million upfront and make an equity investment, and could pay Siligon up to $410 million for reaching development and commercialization milestones, as well as royalties on future product sales, and Lilly will receive an exclusive worldwide license to Siligon's Afibromer technology. After the submission of an investigation new drug application (IND), Lilly will be responsible for clinical development and commercialization costs. As a result, Lilly will take a charge of 5 cents a share in the second quarter for in-process research and development. Earlier, Lilly said a late-stage trial of a liver cancer treatment met its main goals. Lilly's fell 0.8% in premarket trade, while S&P 500 futures ESM8, -1.40% tumbled 1.6%. Over the past three months, Lilly's stock has lost 9.3% through Tuesday, while the S&P 500 has slipped 4.0%.