Shots:

• Precision to receive $100M upfront- $35M as an equity investment and will receive $420M as milestones/ product along with royalties on sales of licensed products emerges from the collaboration- making a total deal value ~$2.7B
• Precision will lead to pre-clinical research and IND-enabling activities while Lilly will lead clinical development and commercialization and have the right to select up to 3 additional gene targets. Precision can co-fund clinical development of one product in exchange for an increased royalty rate on co-funded product sales
• The agreement will utilize Precision's ARCUS genome editing platform for the development of in vivo therapies for genetic disorders- focusing on DMD and two other undisclosed gene targets

 ­ Ref: Lilly | Image: Eli Lilly