Eli Lilly signed a discovery and option agreement with SanegeneBio centered on Sanegene’s LEAD (Ligand and Enhancer Assisted Delivery) platform for tissue‑selective RNAi therapeutics, with potential payments up to $1.2 billion. Lilly took an upfront payment and equity stake and will assume programs for IND‑enabling work and beyond. Sanegene will remain focused on early discovery using its delivery technology. Sanegene emphasized LEAD’s potential to enable infrequent, subcutaneous dosing for cardiometabolic targets; Lilly framed the deal as bolstering its metabolic and RNA therapeutic ambitions alongside recent RNA partnerships. The collaboration signals continued big‑pharma investment in delivery technologies to expand the reach of oligonucleotide medicines. The pact reinforces competition in RNA delivery and could accelerate durable RNA approaches for cardiometabolic disease, with milestone structure and tissue targeting central to clinical and commercial success.