Avidity Biosciences Gets $35M in Immunology R&D Deal with Eli Lilly

Avidity Biosciences, a biotech developing drugs that deliver bits of RNA and DNA to cells to treat disease, has signed its first strategic pharmaceutical partner. Eli Lilly (NYSE: LLY) is paying Avidity $20 million upfront?plus $15 million in equity?for the rights to use the La Jolla, CA, startup?s technology to try and develop new medicines. [?]