Eli Lilly spent nearly $500 million to acquire the rights to MeiraGTx's gene therapy for congenital blindness
American gene therapy company MeiraGTx (MGTX.US) announced that it has reached a potential licensing agreement worth over $475 million with Eli Lilly (LLY.US), granting Eli Lilly rights to an experimental gene therapy for the treatment of rare hereditary blindness diseases.
Under the agreement, MeiraGTx will receive a $75 million upfront payment and has the opportunity to earn over $400 million in milestone payments. Additionally, the company is eligible to receive tiered royalties on the licensed product
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