Lilly doubles down on ProQR's RNA tech in $75M deal expansion, spurring biotech's much-needed share rally

RNA expert ProQR Therapeutics is ending a tough year on a high note thanks to a $75 million expansion of a genetic medicines partnership with Eli Lilly.

This expansion should be good news for the Dutch biotech, which cut 30% of its staff in the spring after a phase 2/3 med called sepofarsen failed. In August, ProQR said it would seek partnerships for its ophthalmology programs. The company refocused on its RNA-editing technology and wound down clinical trials for other candidates to preserve cash in the meantime.