- Eli Lilly And Co LLY and ProQR Therapeutics N.V. PRQR have expanded their licensing and collaboration agreement focused on discovering, developing, and commercializing new genetic medicines.
- The collaboration, initially announced in September 2021, applied ProQR's proprietary Axiomer RNA editing platform to target disorders of the liver and nervous system.
- Through this expanded collaboration, Lilly and ProQR will explore further applications of the Axiomer platform.
- Under the terms of the expanded agreement, Lilly will gain access to additional targets in the central and peripheral nervous systems with ProQR's Axiomer platform.
- ProQR will receive $75 million, consisting of an upfront payment and an equity investment. Lilly can exercise an option to expand the partnership further for a consideration of $50 million. In addition, Lilly can elect to provide ProQR with access to the company's proprietary delivery technology for its wholly-owned pipeline.
- Based on its original September 2021 agreement and the expanded agreement, ProQR is eligible to receive up to approximately $3.75 billion in research, development, and commercialization milestones, as well as tiered royalties of up to mid-single-digit percentage on product sales.
- Price Action: PRQR shares are up 50.90% at $2.50 during the premarket session on the last check Thursday.
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