Eli Lilly backs Avidity Biosciences

La Jolla, California-based Avidity Biosciences, a biotech company, has secured $15 million in funding as part of a licensing and research agreement with Eli Lilly and Company. According to terms of the deal, Avidity will receive an upfront payment of $20 million and is also eligible to receive up to about $405 million for development, regulatory and commercialization milestones.

Source: Press Release