Eli Lilly Inks Another RNA Collab, This Time With ProQR

Eli Lilly And Co LLY is doubling down on RNA research as it pens another pact with a quiet RNA editing player focused on neuroscience, ProQR Therapeutics N.V. PRQR.
In May, Lilly teamed up with MiNA Therapeutics to tap its small activating RNA (saRNA) technology platform for up to five targets.
Related: Lilly, MiNA Ink Broad RNA Deal Worth $1.25B.
ProQR will receive an upfront payment of $20 million and an equity investment of $30 million, with up to $1.25 billion as milestone payments for five targets using its RNA platform.
ProQR’s oligonucleotide platform, dubbed Axiomer, recruits “endogenous” enzymes in the cell, called ADARs, to attach to target RNA and induce adenosine to inosine base switch.
This approach can potentially reverse more than 20,000 G to A mutations known to cause human disease.
Price Action: PRQR stock is up 13.36% at $7.72 during the premarket session on the last check Thursday, while LLY stock closed at $254.84 on Wednesday.