Eli Lilly (LLY) has signed a global research and licensing deal with South Korea-based Rznomics to develop RNA-editing therapies, Rznomics said in a statement Thursday.
The partnership will use Rznomics' proprietary ribozyme platform to target treatments for sensorineural hearing loss.
Rznomics will lead early-stage research, while Lilly will handle later-stage development and global commercialization.
The total deal value could exceed $1.3 billion if all options are exercised, along with future royalties on sales. The upfront payment was not disclosed, according to the company.
Shares of Eli Lilly were up nearly 2% in recent trading.
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