Eli Lilly Inks Another RNA Collab, This Time With ProQR

• Eli Lilly And Co (NYSE: 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. (NASDAQ: 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 .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.

See more from Benzinga

• Click here for options trades from Benzinga

• FDA Hits JAK inhibitors With Heart Safety, Cancer Warnings: All You Need To Know

• Can COVID-19 Antibody Treatment Help In High-Risk Cases? Mayo Clinic, nference Study Shows Potential

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.