Eli Lilly close to acquiring Kelonia Therapeutics

U.S. drugmaker Eli Lilly is in advanced talks to acquire biotech firm Kelonia Therapeutics for more than $2 billion, News.Az reports, citing the Wall Street Journal.

A deal could be reached as soon as Monday and may include additional payments linked to Kelonia meeting certain development milestones, according to the report, which cited people familiar with the matter.

Kelonia Therapeutics, based in Boston, is a clinical-stage biotechnology company developing a pipeline of genetic medicines across multiple diseases, with a particular focus on CAR-T cell therapies.

CAR-T therapies involve modifying a patient’s immune cells to identify specific targets and destroy cancer cells.

If completed, the deal would strengthen Eli Lilly’s oncology portfolio, which already includes treatments such as Jaypirca and the breast cancer drug Verzenio, along with other candidates aimed at expanding its presence in the fast-growing but competitive cancer treatment market.

Eli Lilly, known for its dominance in the obesity drug market, has been expanding beyond weight-loss treatments into areas including inflammatory bowel disease, cancer, eye disorders, and gene-editing technologies through acquisitions and partnerships.

In February, the company announced it would acquire Orna Therapeutics for up to $2.4 billion in cash.

News.Az 

By Nijat Babayev