Investing $700 million to establish a new site, Eli Lilly plans to fuel the development of genetic drugs through the company’s new Institute for Genetic Medicine.
Eli Lilly and Company will invest approximately $700 million to establish the state-of-the-art Lilly Institute for Genetic Medicine at a new site in the Boston Seaport, USA.
The investment – part of the company’s strategy to advance RNA-based therapies – builds on the 2020 acquisition and rapid expansion of Prevail Therapeutics, a gene therapy pioneer based At New York. Working together, researchers in Boston and New York will leverage promising RNA and DNA-based technologies to develop therapies that may treat or prevent disease in ways difficult or impossible with traditional medicines.
“The creation of the Lilly Institute for Genetic Medicine will allow us to combine cutting-edge technologies with our deep biological expertise in several areas, including neuroscience and diabetes,” commented Andrew C Adams, Vice President of Genetic Medicine at Lilly. and co-director of the Institute. . “Lilly will focus on drugs that act at the nucleic acid level to advance an entirely new class that targets the root cause of diseases, an approach that is fundamentally different from drugs available today.
Lilly said that through the institute it intends to stimulate the development of genetic drugs, which already make up more than 20% of Lilly’s diabetes, immunology and systemic research portfolio. central nervous. Within five years, the company expects the Boston site to grow from 120 to more than 250 research biologists, chemists, data scientists and other genetic medicine experts, while the New York site will have up to 200 scientists. , all employed by Lilly. .
Lilly is investing $700 million to establish the Institute for Genetic Medicine in Boston. Researchers will focus on therapies that target the root cause of some of the world’s most devastating diseases. #WeAreLilly https://t.co/q9frG0Un4m pic.twitter.com/CnZqqxBhSb
— Eli Lilly and company (@LillyPad) February 22, 2022
“The Institute will strengthen our efforts in neurodegenerative diseases and integrate Lilly’s research and genetic medicine platforms with the goal of advancing promising and potentially life-changing new drugs from the lab to clinical studies and ultimately to patients,” said added Franz Hefti, Managing Director. of Prevail Therapeutics at Lilly and co-director of the Institute. “We look forward to working with hundreds of scientists and researchers who share a common goal: to create and develop innovative genetic medicines that improve the lives of people around the world.”
The Institute will be headquartered in 334,000 square feet of leased space in a 12-story building in Boston’s Seaport neighborhood. Occupancy of the new site is scheduled for 2024.
The site will also include a shared space – modeled after Lilly Gateway Labs in San Francisco – to support Boston-area biotech start-ups. This space will provide dedicated and configurable lab and office space, access to Lilly scientists, and opportunities for collaboration. These businesses are expected to create up to 150 additional new jobs once the space is fully occupied.