Lilly Looks Beyond Obesity with Up-to-$2.9B Acquisition of Merida Biosciences
Based in Cambridge, MA, Merida develops biologic drugs that are engineered to selectively degrade pathogenic autoantibodies linked to a number of immune-mediated conditions. Merida has said its precision degradation approach aims to address the biological cause of these diseases, rather than broadly suppressing the immune system as done by many current treatments. The post Lilly Looks Beyond…
Eli Lilly has announced plans to acquire biotech company Merida Biosciences for up to $2.875 billion, marking its 13th biotech purchase this year. Based in Cambridge, MA, Merida specializes in developing precision therapies for autoimmune and allergic diseases. The company's lead program, MER511, is a biologic drug designed to selectively degrade pathogenic autoantibodies linked to autoimmune conditions such as Graves' disease and thyroid eye disease.
By targeting the root cause of these diseases, rather than broadly suppressing the immune system, MER511 aims to restore normal thyroid function. The acquisition will bolster Lilly's pipeline beyond its successful obesity treatments, as David Risinger, a research analyst, noted in a recent report. With a pipeline including programs for food allergies, asthma, chronic urticaria, and other immune-mediated conditions, Lilly and Merida believe the precision approach has broader applications.
The deal's finalization is subject to regulatory approvals and is expected to close in the fourth quarter.
Written by urgent.news from GEN Biotechnology's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
