Dicerna Pharmaceuticals & Eli Lilly (LLY) enter global licensing and research collaboration -- Dicerna to receive upfront payment of $100 mln and equity investment of $100 mln(13.00 )
The co's announced a global licensing and research collaboration focused on the discovery, development and commercialization of potential new medicines in the areas of cardio-metabolic disease, neurodegeneration and pain. The companies will utilize Dicerna's proprietary GalXC RNAi technology platform to progress new drug targets toward clinical development and commercialization. In addition, the partners will collaborate to move beyond the current technical paradigm in order to generate next-generation oligonucleotide therapeutic agents.
- Under the terms of the agreement, Dicerna will receive an upfront payment of $100 million, as well as an equity investment of $100 million at a premium. Dicerna is also eligible to receive up to approximately $350 million per target in development and commercialization milestones, as well as tiered royalties ranging from the mid-single to low-double digits on product sales. Dicerna will work exclusively with Lilly in the neurodegeneration and pain fields, and on select targets in cardio-metabolic diseases. The two companies anticipate collaborating on more than ten targets.
- There will be no change to Lilly's 2018 non-GAAP earnings per share guidance as a result of this transaction.
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