Lilly and Avidity Biosciences Announce Licensing and Research Collaboration
The companies will utilize Avidity's technology platform to progress new therapeutic approaches toward clinical development and commercialization. Avidity's platform seeks to combine the tissue selectivity of monoclonal antibodies and the precision of oligonucleotide-based therapeutics to potentially overcome barriers to the delivery of oligonucleotides and target genetic drivers of disease.
"We are excited to expand our oligonucleotide research and development efforts through this strategic collaboration with Avidity," said
"This collaboration with Lilly provides an exceptional opportunity to leverage Avidity's proprietary AOC platform in order to generate new therapeutic targets in disease areas that have been challenging to pursue using oligonucleotide-based approaches," said
Under the terms of the agreement, Avidity will receive an upfront payment of
This transaction is subject to clearance under customary closing conditions. The 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 2019 non-GAAP earnings per share guidance as a result of this transaction.
About Eli Lilly and Company
Lilly is a global healthcare 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 and http://newsroom.lilly.com/social-channels. 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 Avidity, and reflects Lilly's current beliefs. However, as with any such undertaking, there are substantial risks and uncertainties in the process of drug development and commercialization. Among other things, there can be no guarantee that Lilly will realize the expected benefits of the collaboration, or that the collaboration will yield commercially successful products. 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
Mark Taylor; email@example.com; (317) 276-5795 (Lilly Media)
Kevin Hern; firstname.lastname@example.org; (317) 277-1838 (Lilly Investors)
Leslie Ann Kerins; email@example.com; (858) 401-7900 (Avidity)
Ian Stone; firstname.lastname@example.org; (619) 849-5388 (Avidity Media)
View original content to download multimedia:http://www.prnewswire.com/news-releases/lilly-and-avidity-biosciences-announce-licensing-and-research-collaboration-300835431.html