INDIANAPOLIS and LONDON, May 11,
2021 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY)
and MiNA Therapeutics Limited, a pioneer in RNA activation
therapeutics, today announced a global research collaboration to
develop novel drug candidates using MiNA's proprietary small
activating RNA (saRNA) technology platform.
Under the terms of the agreement, MiNA will utilize its saRNA
platform to research up to five targets selected by Lilly that aim
to address diseases across Lilly's key therapeutic focus areas.
Lilly will be responsible for preclinical and clinical development
of candidates and will retain exclusive commercialization rights
for any products resulting from the collaboration. MiNA will
receive a $25 million upfront payment
and is eligible to receive potential development and
commercialization milestones 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
resulting from the collaboration.
"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," said Andrew C.
Adams, Ph.D., vice president for new therapeutic modalities
at Lilly. "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."
"This collaboration with Lilly is an important validation of our
saRNA platform," said Robert Habib,
CEO of MiNA Therapeutics. "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."
This transaction will be reflected in Lilly's reported results
and financial guidance according to Generally Accepted Accounting
Principles (GAAP). There will be no change to Lilly's 2021 non-GAAP
earnings per share guidance as a result of this transaction.
About MiNA Therapeutics
MiNA Therapeutics is the
leader in small activating RNA therapeutics. Harnessing innate
mechanisms of gene activation, small activating RNA therapeutics
are a revolutionary new class of medicines that can restore normal
function to patients' cells. We are advancing a proprietary
pipeline of new medicines with an initial focus on cancer and
genetic diseases, while collaborating with leading pharmaceutical
companies to apply our technology platform across a broad range of
therapeutic areas. Based on our unique know-how in RNA activation
we are expanding the possibilities of RNA-based medicine for
patients.
About Eli Lilly and Company
Lilly is a global
health care leader that unites caring with discovery to create
medicines that make life better for people around the world. We
were founded more than a century ago by a man committed to creating
high-quality medicines that meet real needs, and today we remain
true to that mission in all our work. Across the globe, Lilly
employees work to discover and bring life-changing medicines to
those who need them, improve the understanding and management of
disease, and give back to communities through philanthropy and
volunteerism. To learn more about Lilly, please visit us at
www.lilly.com. C-LLY
Lilly Forward-Looking Statement
This press release
contains forward-looking statements (as that term is defined in the
Private Securities Litigation Reform Act of 1995) about the
benefits of a collaboration between Lilly and MiNA, Lilly's drug
development strategy, and potential payments to MiNA in connection
with the collaboration, and reflects Lilly's current beliefs and
expectations. However, as with any such undertaking, there are
substantial risks and uncertainties in the process of drug
research, development and commercialization. Among other things,
there can be no guarantee that Lilly will realize the expected
benefits of the collaboration, that the collaboration will yield
commercially successful products, or that Lilly will execute its
strategy as expected. For a further discussion of these and other
risks and uncertainties that could cause actual results to differ
from Lilly's expectations, please see Lilly's most recent Forms
10-K and 10-Q filed with the U.S. Securities and Exchange
Commission. Lilly undertakes no duty to update forward-looking
statements.
Refer to:
Molly McCully;
mccully_molly@lilly.com; (317) 478-5423 (Lilly Media)
Kevin Hern; hern_kevin_r@lilly.com;
(317) 277-1838 (Lilly Investors)
Robert Habib, CEO; info@minatx.com;
+44 208 811 6700
Stephanie May or Sophia Hergenhan; mina@trophic.eu; +49 171 185
56 82 or Victoria Foster Mitchell or
Tim Stamper,
MiNATherapeutics@fticonsulting.com, +44 20 3727 1000 (Mina
Media)
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SOURCE Eli Lilly and Company