Lilly to spend $700 million on Boston facility to develop RNA therapies

Eli Lilly & Co. said Monday it will invest $700 million in a new facility in Boston aimed at developing RNA-based therapies. The company expects to have 250 scientists working at the site within the next five years. Lilly purchased Prevail Therapeutics Inc., a gene therapy company in New York, for $1 billion at the end of 2020. It said in the news release it also expects to have 200 scientists at the New York site in five years. Lilly’s stock is up 19.7% over the past year, while the broader S&P 500 has gained 11.1%.

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