On December 22, Eli Lilly and Company partnered with ProQR
Therapeutics jointly announced the expansion of its licensing and collaboration agreement to expand collaboration on RNA editing technologies with a focus on the discovery, development and commercialization
of new gene drugs.
Affected by this news, ProQR Therapeutics' share price jumped 63.
64% on the day, and now has a total market value of $193 million
.
64%
Under the terms of this expanded agreement, Eli Lilly will use ProQR's Axiomer® RNA
Edit the platform to obtain other targets
of the central nervous system and peripheral nervous system.
Eli Lilly will make an upfront payment of $75 million and equity investments, as well as an option to further expand the partnership for a consideration of $50 million
.
In addition, Eli Lilly has the option to provide ProQR with access to the company's proprietary delivery technology that can be used in its wholly-owned pipeline
.
.
$75 million, $50 million
Under its original and expanded agreements, ProQR is eligible for research, development and commercialization milestones of up to approximately $3.
75 billion, as well as tiered royalties
of up to mid-single-digit product sales.
75 billion
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