To expand gene therapy, Eli Lilly and Company announced to acquire Prevail Therapeutics Inc for approximately $880 million. This acquisition will establish a new modality for drug discovery and development for Eli Lilly.
- Prevail is a biotechnology company developing potentially disease-modifying AAV9-based gene therapies for patients with neurodegenerative diseases.
- The deal also extende Lilly’s research efforts through the creation of a gene therapy program that will be anchored by Prevail’s portfolio of clinical-stage and preclinical neuroscience assets.
The major acquisitions and expansions by Eli Lilly are mentioned below:
Oct 2020: Eli Lilly and Company announced to acquire a privately-held biotechnology company Disarm Therapeutics, for an upfront payment of $135 million. Disarm equityholders as per agreement may be eligible for up to $1.225 billion additional future payments.
Sep 2020: Eli Lilly and Company announced a global antibody manufacturing collaboration with pharmaceutical leader Amgen to increase the supply capacity available for Lilly’s potential COVID-19 therapies.
May 2020: Eli Lilly and Company announced an agreement with a China-based biopharmaceutical company Junshi Biosciences to co-develop therapeutic antibodies for the potential prevention and treatment of COVID-19.
April 2020: Eli Lilly had entered into an agreement with the National Institute of Allergy and Infectious Diseases (NIAID), to study baricitinib as an arm in NIAID’s Adaptive COVID-19 Treatment Trial. Baricitinib, is an oral JAK1/JAK2 inhibitor marketed in nearly 60 countries as a treatment for adults with moderately to severely active rheumatoid arthritis.
April 2020: Eli Lilly and Company had announced an exclusive global licensing and research collaboration with a biopharmaceutical company Sitryx, focused on regulating cell metabolism to develop disease-modifying therapeutics in immuno-oncology and immuno-inflammation.
February 2020: Eli Lilly had announced the completion of its acquisition of Dermira, Inc. for $1.1 billion. The acquisition of Dermira expands Lilly’s immunology pipeline with the addition of lebrikizumab, a novel, investigational, monoclonal antibody designed to bind IL-13 with a high affinity that is being evaluated in a Phase 3 clinical development program for the treatment of moderate-to-severe atopic dermatitis.
November 2019: Eli Lilly announced to expand its manufacturing capacity with the investment of $400 million in its manufacturing facilities at its Lilly Technology Center campus in Indianapolis. The new investments will create around 100 new highly skilled jobs. The expansion includes manufacturing facilities of insulin, additional capacity for its growing portfolio of diabetes medicines.
About Eli Lilly
Eli Lilly is a global pharmaceutical company headquartered in Indianapolis, Indiana, the USA. The company was founded in 1876 and committed to high-quality manufacturing medicines.
The company’s manufacturing plant is located in around eight countries and has approximately 33,000 employees around the globe. Eli Lilly conducted clinical research in more than 55 countries, and has approximately 7,700 employees engaged in research and developmental activity.