Lilly, Precision Biosciences team up on Duchenne gene therapy in $135M deal
November 20, 2020
Once wary of inking deals around gene therapy, Eli Lilly is jumping headfirst into developing treatments that edit genes within the body. It’s teaming up with cell and gene therapy biotech Precision BioSciences to develop in vivo gene therapies for three gene targets, starting with Duchenne muscular dystrophy.
Lilly is forking over $100 million upfront and investing $35 million in Precision BioSciences, but it’s on the hook for up to $420 million in development and commercialization milestones per product it takes forward. If Lilly pulls the trigger on three additional targets beyond these initial three, the deal could exceed $2.6 billion in value.
Under the deal, Precision will lead preclinical research and IND-enabling studies and pass the baton to Lilly for clinical development and commercialization.
Full news article here.