Eli Lil­ly ties up 2022 by ex­pand­ing deal with bat­tered RNA-edit­ing biotech

De­spite a year lit­tered with set­backs, Pro­QR Ther­a­peu­tics is clos­ing 2022 on a high note.

The Dutch biotech is ex­pand­ing its RNA edit­ing col­lab­o­ra­tion with Eli Lil­ly, with a po­ten­tial­ly large pay­off down the line, the com­pa­nies an­nounced ear­ly Thurs­day morn­ing.

Lil­ly is putting down $75 mil­lion in up­front cash and eq­ui­ty, with a $50 mil­lion op­tion to ex­pand the deal fur­ther in the fu­ture. There’s al­so now $3.75 bil­lion in biobucks on the ta­ble, com­pared with $1.25 bil­lion when the pair signed their orig­i­nal deal in Sep­tem­ber 2021.

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