Lilly (LLY.US) enters into a $409M agreement with biotech company Genetic Leap, betting on AI drug development

Market VisionThursday, Sep 5, 2024 8:20 pm ET

1min read

Genetic Leap, a biotechnology company focused on AI-driven drug discovery, announced on Thursday a research collaboration with Eli Lilly (LLY.US) worth up to $409 million to develop gene-based therapies. As part of the agreement, the companies will use Genetic Leap's RNA-targeting AI platform to develop oligonucleotide drugs for targets selected by Lilly. The New York-based company said it established the collaboration after a successful pilot project with Eli Lilly. According to the structure of the agreement, in addition to tiered royalties, Genetic Leap will receive up to $409 million in upfront and milestone payments. Genetic Leap CEO and founder Bertrand Adanve said, "We are thrilled to partner with Eli Lilly and share their strong commitment to developing RNA drugs." "Our primary goal in building the Genetic Leap AI platform was to accelerate the development of life-saving drugs for patients, and our collaboration with the talented and savvy R&D team at Lilly brings us closer to that goal."

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