By Krystle Vermes on November 20, 2020
Eli Lilly and Company and Precision BioSciences, Inc. announced today that they have entered a research collaboration and exclusive license agreement to use Precision’s ARCUS genome editing platform to research and develop potential in vivo therapies for a series of genetic disorders. Specifically, the companies will be focusing on Duchenne muscular dystrophy (DMD), along with two other undisclosed gene targets. ARCUS will give them the opportunity to make a variety of efficient edits, enabling a range of therapeutic editing.
“Gene-edited therapies are emerging as a promising approach to help patients afflicted with genetic conditions,” said Ruth Gimeno, Ph.D., vice president of diabetes and metabolic research at Lilly. “We look forward to working closely with Precision’s scientific team and leveraging their platform to develop and deliver breakthrough medicines for untreated genetic disorders.”
Under the terms of the agreement, Precision BioSciences will receive a cash payment of $100 million. It will also have an equity investment by Lilly of $35 million in Precision’s common stock. Ultimately, Precision will be eligible to receive up to $420 million in potential development and commercialization milestones per product.
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