After the company announced an expansion of cooperation, shares of ProQR Therapeutics N.V. (Nasdaq: PRQR) were up 35.15% at $2.23 at the time of our last check in pre-market trading.
What partnership will PRQR be extending?
Eli Lilly and Company (NYSE: LLY) and ProQR Therapeutics (PRQR) have expanded their license and partnership arrangement to concentrate more on the research and marketing of novel genetic treatments.
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The partnership, which was first disclosed in September 2021, used ProQR Therapeutics’ exclusive Axiomer RNA editing tool to treat liver and nervous system diseases. Since the beginning of the project, platform improvements have greatly improved editing effectiveness and improved biodistribution in the nervous system and liver.
That made it possible to inject protective variations into certain transcripts in addition to fixing known mutations, which resulted in new potential uses. Through this extended partnership, Lilly and PRQR will investigate further Axiomer platform applications to discover cutting-edge novel solutions for patients with serious medical needs.
Them takes time, consistent innovation, and most crucially, cooperation to find and create the medicines of the future. PRQR has pleased Lilly with its work to date and assisted it in coming to the conclusion that RNA editing can support a wide range of other more permanent treatments.
The initial cooperation between Lilly and PRQR, which makes use of the latter’s Axiomer RNA editing technology platform, is still going well, and the companies are now planning to broaden their collaboration to include other targets, with an option for Lilly to accept more.
Lilly is a pioneer in the field of RNA therapies, and the expanded relationship with PRQR is further evidence of Lilly’s superiority in ADAR-mediated RNA editing, the strength of its IP portfolio, and the promise of its broadly applicable Axiomer platform technology.
How will PRQR expand the collaboration transaction?
With PRQR’s Axiomer platform, Lilly will have access to more endpoints in the nervous system and the peripheral nervous system under the conditions of the enlarged partnership. $75 million will be given to ProQR Therapeutics (PRQR), which will be split between advance payment and equity investment. For a fee of $50 million, Lilly will have the opportunity to exploit the partnership’s potential growth. In addition, Lilly has the option to grant PRQR access to its fully owned pipeline’s patented delivery technology.
