Lilly secures gene-editing tech license for kidney disease drugs in deal worth up to $1.9B
LLY sits 71% above its 52-week low of $623.78.
Summary
Eli Lilly secured a licensing deal with Ascidian Therapeutics for their RNA exon-editing technology, targeting rare inherited kidney diseases. The agreement is valued at up to $1.9 billion, including an undisclosed upfront payment and future milestones. This move aligns with Lilly's ongoing strategy to expand its genetic medicine pipeline, adding a novel gene-editing approach without permanent DNA alteration. Ascidian will lead early research, with Lilly handling later development and commercialization.
At the time of this announcement, LLY was trading at $1,066.00 on NYSE in the Life Sciences sector, with a market capitalization of approximately $1T. The 52-week trading range was $623.78 to $1,149.10. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.