Lilly Enters Genome Editing Collaboration with Precision BioSciences
November 20, 2020
Rare Daily Staff
Eli Lilly has entered into a genome editing research and exclusive license collaboration with Precision BioSciences for $100 million upfront, a $35 million equity investment, and potential milestones up to $420 million.
The deal centers on Precision’s proprietary ARCUS genome editing platform for the research and development of potential in vivo therapies with an initial focus on Duchenne muscular dystrophy (DMD) and two other undisclosed gene targets.
Genome editing technologies enable precise editing of the DNA of a living organism, opening up the possibility of correcting genetic problems at their source. Precision’s ARCUS technology is a versatile genome editing platform that has the ability to make a variety of efficient edits (knock-in, knock-out, and repair), and small in size, thereby enabling a range of therapeutic editing with specificity.
Under the terms of the agreement, Precision will also receive tiered royalties ranging from the mid-single digits to low-teens on product sales should Lilly successfully commercialize a therapy from the collaboration.
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 this collaboration. Precision can co-fund clinical development of one product in exchange for an increased royalty rate on co-funded product sales.
“Collaborating with Lilly, a global healthcare leader with strong clinical and commercial experience in difficult-to-treat diseases, will help us accelerate our work aimed to solve genetic diseases with unique editing challenges,” said Derek Jantz, chief scientific officer and co-founder of Precision BioSciences.
Photo: Derek Jantz, chief scientific officer and co-founder of Precision BioSciences.
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