Eli Lilly and Company [NYSE: LLY] disclosed that it has inked a global research collaboration deal with MiNA Therapeutics Limited. Both the firms have joined forces to develop novel drug candidates using MiNA’s patented small activating RNA (saRNA) technology platform.
As per the cooperation deal, MiNA will leverage its saRNA platform to research up to five targets designated by Lilly that intent to tackle diseases across Lilly’s key therapeutic focus areas. After joining the forces, Lilly will be in charge of the preclinical and clinical development of candidates.
It will maintain special commercialization rights for any products following the cooperation. Additionally, it has been disclosed that MiNA will receive a $25 million upfront payment. Moreover, it is entitled to get potential development and promotion achievements up to a total of $245 million per target, as well as tiered royalties from the low-single to low-double digits on product sales following the cooperation.
Additionally, the firm believed that this deal will be manifested in the stated results and financial assistance of Lilly according to GAAP. Moreover, there will be no modification to Lilly’s 2021 non-GAAP earnings per share guidance as a result of this deal. This cooperation with Lilly has disclosed the importance of the saRNA technology platform of MiNA.
Through this cooperation, both the firms are endeavoring to expose new targets in numerous medicinal areas and to eventually move them towards clinical advancement and promotion.