Eli Lilly and Company has agreed to acquire Kelonia Therapeutics, a Boston-based clinical-stage bio/pharmaceutical company specializing in in vivo gene delivery, in a $7-billion deal ($3.25 billion upfront and $3.75 billion in milestone payments). 

Kelonia has developed a proprietary in vivo gene-placement system, iGPS, which uses specially engineered lentiviral-based particles designed to enter T-cells inside the body to allow the patient to generate chimeric antigen receptor T-cell (CAR-T) therapies. Specifically, in vivo gene delivery technology uses an advanced lentiviral vector particle harboring envelope modification to improve in vivo gene transfer efficiency and tropism molecules to facilitate tissue-specific delivery.  

Kelonia’s lead program, KLN-1010, currently in Phase I development for relapsed/refractory multiple myeloma, is an investigational, one-time intravenous gene therapy that generates anti-B-cell maturation antigen (BCMA) CAR-T cells, targeting the BCMA protein expressed on the surface of multiple myeloma cells.  

Under the agreement, Lilly will acquire Kelonia, and Kelonia shareholders will receive up to $7.00 billion in cash, inclusive of an upfront payment of $3.25 billion, and subsequent payments upon achievement of certain clinical, regulatory, and commercial milestones. 

The transaction is subject to customary closing conditions, including customary regulatory approvals, and is expected to close in the second half of 2026.  

Source: Eli Lilly and Company