Eli Lilly to Acquire Kelonia Therapeutics in $7 Billion Deal
Eli Lilly has agreed to acquire biotech company Kelonia Therapeutics for up to $7 billion, with $3.25 billion paid upfront and the remainder contingent on milestones. The acquisition targets Kelonia's in vivo CAR-T technology, which reprograms T-cells to attack cancer directly in the body. The deal is expected to close in late 2026 and is seen as a strategic move to expand Lilly's presence in oncology.
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Topics: acquisition biotech cancer treatment CAR-T therapy pharmaceutical industry