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Biotech · Kidney Disease · Partnership · Pharmaceuticals
Eli Lilly and Company (LLY) and Ascidian Therapeutics announced a global research collaboration and licensing agreement to discover and develop therapies for undisclosed monogenic kidney diseases, with Ascidian eligible to receive up to $1.9 billion in payments and royalties.
Under the terms of the deal, Lilly gains exclusive, target-specific rights to Ascidian's innovative RNA exon editing technology for these kidney disease targets. The financial arrangement for Ascidian includes an upfront payment, significant development and commercial milestone payments, and tiered royalties on future worldwide commercial sales.
Ascidian will lead the initial discovery and selected preclinical activities, while Lilly assumes responsibility for subsequent preclinical work, clinical development, manufacturing, and global commercialization. This strategic partnership represents a significant expansion of Lilly's therapeutic pipeline into a novel and potentially transformative area of genetic medicine, leveraging advanced RNA technology to address devastating conditions.
Following the announcement, Eli Lilly's stock (LLY) traded at $1,066, up 0.11 percent, in pre-market hours, as reported by RTTNews.
