Goodwin Advises Ascidian Therapeutics on a Global Research Collaboration with Eli Lilly for Up To $1.9 Billion

The Life Sciences team advised Ascidian Therapeutics (Ascidian) on entering into a global research collaboration and licensing agreement with Eli Lilly and Company (Lilly) to discover and develop therapies for undisclosed monogenic kidney diseases, with the option to expand to additional targets. Under the agreement, Lilly will receive exclusive, target-specific rights to Ascidian’s RNA exon editing technology for undisclosed kidney disease targets. Ascidian will lead discovery and selected preclinical activities, with Lilly responsible for additional preclinical work, clinical development, manufacturing, and commercialization. 

Ascidian is eligible to receive up to $1.9 billion, including an upfront payment, development and commercial milestone payments, and tiered royalties on commercial sales worldwide.

Ascidian Therapeutics is redefining the treatment of disease by rewriting RNA. By editing exons at the RNA level, Ascidian therapies enable precise post-transcriptional editing of genes, resulting in full-length, functional proteins at the right levels, in the right cells, at the right time. With partnered and wholly owned programs in retinal, renal, neurological, neuromuscular, and genetically defined diseases, Ascidian’s approach has the potential to treat patients with one dose of an RNA exon editor, opening new therapeutic possibilities for patients and their families who are seeking breakthroughs.

The Goodwin team was led by Sarah Solomon, Erini Svokos, and Katerina Stavrianidis.

For more information on the deal, please read the press release and see coverage in Endpoints, Fierce Biotech, Biopharma Dive, and CNBC.