Eli Lilly And CoLLY 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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