Eli Lilly concludes acquisition of Versanis Bio
Indianapolis: Eli Lilly and Company has announced the successful completion of its acquisition of Versanis Bio. The acquisition expands Lilly's portfolio to include Versanis' lead asset, bimagrumab, which is currently being assessed in a Phase 2b study alone and in combination with semaglutide in adults living with overweight or obesity.
"Combining our current incretin portfolio, including tirzepatide, with activin receptor blockers such as bimagrumab, could be the next major step in innovative treatments for those living with cardiometabolic diseases, like obesity," said Ruth Gimeno, Ph.D., group vice president, diabetes, obesity and cardiometabolic research at Lilly. "The wealth of knowledge that our new colleagues from Versanis will bring to Lilly will propel our research and development efforts forward, ultimately benefiting patients around the world."
Under the terms of the agreement, Versanis shareholders could receive up to $1.925 billion in cash, inclusive of the upfront payment and subsequent payments upon achievement of certain development and sales milestones.
For Lilly, Kirkland & Ellis LLP is acting as legal counsel. For Versanis, Goodwin Procter LLP is acting as legal counsel, Cooley LLP is advising as to patent matters, and J.P. Morgan and Company is acting as financial advisor.
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