Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced a $100 million global licensing and research collaboration. The company will partner with Massachusetts-based Dicerna Pharmaceuticals Inc. (Nasdaq: DRNA) on potential cardio-metabolic disease, neurodegeneration and pain treatments. The deal also involves a $100 million equity investment from Lilly. More than 10 targets are expected to be involved.
Lilly says Dicerna could receive some $350 million per treatment that hits certain development and commercialization milestones. A tiered royalty arrangement involving product sales is also included.
Lilly Chief Scientific Officer Daniel Skovronsky says "at Lilly, we go to where breaking science meets unmet medical needs. We are excited to collaborate with Dicerna and utilize their RNAi expertise to study targets that up until now have proven to be very technically challenging. RNAi has the potential to treat an array of diseases that are of strategic importance to Lilly. Together with Dicerna, we aim to employ this emerging modality for greater success in drug development."
Under terms of the agreement, Lilly says Dicerna will work exclusively with it in the neurodegeneration and pain fields and selectively in cardio-metabolic disease fields. The deal still needs regulatory approvals. You can connect to more about the agreement by clicking here.