Eli Lilly Forays Into RNA Editing, Betting More than a Billion Dollars on ProQR’s Technology
On September 8th, news broke that Dutch biotech ProQR Therapeutics has signed a global licensing and research collaboration with Eli Lilly to develop editing oligonucleotides or EONs using ProQR’s proprietary RNA editing platform, Axiomer. The collaboration intends to advance up to five drug targets toward clinical development and commercialization.
As per the terms, ProQR will receive $50 million from Eli Lilly, comprising an upfront payment of $20 million and $30 million in equity investment. ProQR is also eligible to receive up to $1.25 billion in biobucks if certain development, regulatory, and commercialization milestones are met. In addition, it also stands to gain tiered royalties on product sales.