Eli Lilly and Company and MiNA Therapeutics, a pioneer in RNA activation therapeutics, have announced a worldwide research partnership to develop novel drug candidates using MiNA’s patented small activating RNA (saRNA) technology platform.
saRNA platform to study up to five targets specified by Eli Lilly
London-based biotech MiNA will use its small activating RNA platform to study up to five targets specified by Eli Lilly that aim to treat illnesses across Lilly’s main therapeutic focus areas, according to the T&C’s of the agreement. Lilly will be in charge of the preclinical and clinical development of the drug candidates and will have exclusive commercialisation rights for any products created as a consequence of the partnership.
Moreover, under the agreement, MiNA is entitled to receive potential development and marketing payments up to a total of $245 million per target, and in addition, will get payments from the low-single to low-double digits on product sales resulting from the collaboration, as well as the agreed initial $25milion upfront payment.
Andrew C. Adams, Ph.D., Vice President for new therapeutic modalities at Lilly said:
“Small activating RNAs are a promising new technology, which will expand the breadth of Lilly’s RNA therapeutics platform and the targets we can pursue. We are excited about the potential of combining MiNA’s leading saRNA platform and our expertise in new modalities to accelerate development of RNA-based medicines in areas of high unmet medical need.”
Robert Habib, CEO of MiNA Therapeutics commented:
“This collaboration with Lilly is an important validation of our saRNA platform. Lilly’s expertise in the field of RNA therapeutics and clinical development will greatly enhance our efforts to realize the technology’s full potential. Together, we aim to unlock new targets in multiple therapeutic areas and to ultimately move them towards clinical development and commercialization.”
According to Generally Accepted Accounting Principles, this transaction will be reflected in Lilly’s reported results and financial projections (GAAP). As a result of this transaction, Lilly’s non-GAAP earnings per share projection for 2021 will remain unchanged.
About MiNA Therapeutics
In the field of small-activating RNA medicines, MiNA Therapeutics is the market leader. Small activating RNA therapeutics, which use inherent principles of gene activation to restore normal function to patients’ cells, are a truly groundbreaking class of treatments.
While cooperating with major pharmaceutical firms to deploy its technological platform across a broad variety of therapeutic areas for patients, MiNA is also developing a proprietary pipeline of novel medications with an initial focus on cancer and genetic illnesses. The British biotechnology company is broadening the potential of RNA- based treatment for patients based on its unique expertise in RNA activation.
To learn more, please visit MiNA Therapeutics www.minatx.com
About Eli Lilly and Company
Eli Lilly and Company is a global healthcare company that combines compassion and innovation to develop medications that improve people’s lives all across the world. Lilly was created more than a century ago by a man dedicated to developing high-quality medications that address real-world problems, and continues to follow that same purpose today.
Employees at Lilly strive to find and offer life-changing medications to those who need them, improve disease awareness and management, and give back to communities via charity and volunteers all around the world.
To learn more, please visit Lilly’s website www.lilly.com.
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