LLY Eli Lilly and Co

By Michael Dabaie

Eli Lilly and Co. and MiNA Therapeutics Ltd. said Tuesday they are in a global research collaboration to develop novel drug candidates using MiNA's proprietary small activating RNA technology platform.

Under the terms of the agreement, MiNA will use its saRNA platform to research up to five targets selected by Lilly to address diseases across Lilly's 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.

Lilly said there would be no change to its 2021 non-GAAP earnings per share guidance as a result of this transaction.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

May 11, 2021 07:52 ET (11:52 GMT)

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