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Eli Lilly agrees to buy privately held cancer biotech Kelonia Therapeutics for up to $7 billion in cash.
Eli Lilly will acquire Kelonia Therapeutics for up to $7 billion in cash.
KEY POINTS
- The deal includes an upfront payment of $3.25 billion to Kelonia's owners.
- Kelonia Therapeutics is developing a next-generation therapy for multiple myeloma.
- Pharma deals between $1 billion and $10 billion made up most transactions this year's first quarter.
- Eli Lilly also recently acquired Centessa Pharmaceuticals, Orna Therapeutics, and Ventyx Biosciences.
COMPANIES
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