Lilly commits further to genetic medicine with $700 million Boston site spend
US drugmaker Eli Lilly (NYSE: LLY) has announced the launch of the Lilly Institute for Genetic Medicine with an investment of approximately $700 million to establish a facility at a new site in the Boston Seaport.
This investment is part of the company's strategy to advance RNA based therapeutics and builds on the acquisition and rapid expansion of Prevail Therapeutics, a gene therapy pioneer based in New York City.
Lilly bought Prevail – a biotech company developing potentially disease-modifying AAV9-based gene therapies for patients with neurodegenerative diseases – for around $1 billion in December 2020.
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