Improvements in generating, purifying, and delivering RNA material, as well as addressing challenges with degradation by enzymes, have made the RNA class more attractive to drug developers.

The UK major will work with the US biotech to develop up to three precision medicines targeting cancer proteins previously thought undruggable via conventional methods.

Nearly £1.6bn was invested in the pharma, biotech and life sciences sector in the UK from March to May, which means £2.39bn has been raised in the year to date, more than in the whole of 2020.

Genentech will use the X-Chem platform to obtain leads against multiple oncology targets. Lilly partners with Merus on CD3-targeting T-cell therapy candidates.