ProQR Therapeutics Shares Soar As Eli Lilly Expands RNA Collaboration

Vandana Singh
1 min read
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In this article:

  • Eli Lilly And Co (NYSE: LLY) and ProQR Therapeutics N.V. (NASDAQ: 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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