Fierce Biotech April 17, 2024
Nine months after Eli Lilly’s Prevail Therapeutics reduced the biobucks value of a gene editing deal with Precision Biosciences, the Big Pharma subsidiary has walked away from the partnership entirely.
The initial deal dates back to November 2020, when Lilly paid out $100 million cash to Precision to develop in vivo gene therapies for three gene targets, starting with Duchenne muscular dystrophy (DMD). At the time, the Big Pharma said if it chose another three targets beyond the initial three, the deal had the potential to surpass $2.6 billion in value.
Less than a month later, Lilly acquired Prevail for about $1 billion and assigned its new subsidiary to take over the work with Precision.
By July 2023, Lilly and...
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