logo
Plus   Neg
Share
Email

Lilly, Precision BioSciences Reach Genome Editing Research Collaboration And License Deal

Eli Lilly and Co. (LLY) and Precision BioSciences Inc. (DTIL) announced a genome editing research collaboration and license agreement.

Lilly's agreement will utilize Precision's proprietary ARCUS genome editing platform for the research and development of potential in vivo therapies for genetic disorders, with an initial focus on Duchenne muscular dystrophy and two other undisclosed gene targets, the companies said in a statement.

As per the terms of the deal, Precision will receive an upfront cash payment of $100 million, as well as an equity investment by Lilly of $35 million in Precision's common stock.

Precision is also eligible to receive potential milestones up to $420 million per product, as well as tiered royalties on sales of licensed products.

Precision will lead pre-clinical research and IND-enabling activities, with Lilly then assuming responsibility for clinical development and commercialization.

Lilly will have the right to select up to three additional gene targets for the collaboration. Precision can co-fund clinical development of one product in exchange for an increased royalty rate on co-funded product sales.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Data giant S&P Global Inc. has agreed to acquire information and analytics company IHS Markit Ltd. in an all-stock deal, the two companies said Monday. The deal values IHS Markit at an enterprise value of $44 billion, including $4.8 billion of net debt. Shares of IHS Markit are gaining almost 6 percent following the news. The deal is the biggest in 2020. Moderna, Inc. (MRNA) said it will apply for an Emergency Use approval of its Covid vaccine as the latest study showed that the vaccine candidate is 94.1% effective to prevent Covid-19. The company said there have been no serious safety concerns identified. The company will file for an Emergency... Vegpro International is recalling Fresh Attitude baby spinach citing potential to be contaminated with Salmonella, according to the U.S. Food and Drug Administration. The recall involves Fresh Attitude baby spinach of 5oz with best before dates of December 4 & 5; and 11oz with best before date of December 4.
Follow RTT