Eli Lilly Nears $2 Billion Deal to Buy Kelonia Therapeutics
New Delhi: The U.S. drugmaker Eli Lilly, opens new tab, is in advanced talks to acquire biotech firm Kelonia Therapeutics for more than $ 2 billion, the Wall Street Journal reported on Sunday.
A deal could be reached as soon as Monday and could include additional payments tied to Kelonia meeting certain milestones, the Journal added, citing people.Boston-based Kelonia Therapeutics is a clinical‑stage biotechnology company working on a pipeline of genetic medicines across a range of diseases with a focus on CAR‑T cell therapies.
CAR-T therapies modify a patient's immune cells to recognize a specific target and destroy cancer cells.
A potential deal would strengthen Lilly's cancer portfolio, which includes therapies, such as Jaypirca and breast cancer drug Verzenio and other promising candidates, to bolster its presence in the fast-growing but competitive cancer treatment market.
Lilly, which is dominating the obesity market, has diversified beyond its blockbuster weight-loss drugs into other therapeutic areas such as inflammatory bowel disease, cancer, eye disorders and gene-editing technologies through acquisitions and partnerships.
In February, the company said it would acquire Orna Therapeutics for up to $2.4 billion in cash.
