United States-based Eli Lilly has signed a global licensing and research collaboration with United States-based Dicerna Pharmaceuticals, aimed at the discovery, development and commercialisation of new drugs in the areas of cardio-metabolic disease, neurodegeneration and pain, it was reported yesterday.

Both firms will use Dicerna's proprietary GalXC RNAi technology platform to progress new drug targets toward clinical development and commercialisation. They will also collaborate to move beyond the present technical paradigm in order to generate next-generation oligonucleotide therapeutic agents.

According to the terms of the contract, Dicerna will receive an upfront payment of USD100m and an equity investment of USD100m at a premium. Dicerna is also eligible to receive up to around USD350m per target in development and commercialisation milestones and tiered royalties, ranging from the mid-single to low-double digits on product sales. Dicerna will work exclusively with Lilly in the neurodegeneration and pain fields, and on select targets in cardio-metabolic diseases. Both firms anticipate collaborating on more than ten targets. The deal is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions.