Eli Lilly entered a discovery‑stage collaboration with SanegeneBio that could generate up to $1.2 billion in milestone payments tied to Sanegene’s Ligand and Enhancer Assisted Delivery (LEAD) platform for tissue‑selective RNA interference therapies. Lilly will take optimized LEAD‑based molecules into IND‑enabling studies and potentially clinical development for undisclosed metabolic targets. Sanegene described LEAD as a delivery technology that could allow infrequent subcutaneous dosing for cardiometabolic indications. The deal includes upfront payments and an equity investment alongside the milestone structure; Lilly characterized the agreement as strategic validation of its broader RNA therapeutic strategy.