Lilly Completes $1.9-Bn Acquisition of Versanis Bio
Eli Lilly and Company has completed its $1.9-billion acquisition of Versanis Bio, a New York-based bio/pharmaceutical company focused on cardiometabolic diseases. The deal was announced in July (July 2023).
Versanis’ lead asset is bimagrumab, a monoclonal antibody that binds activin Type II A and B receptors to block activin and myostatin signaling. Bimagrumab is currently being assessed in a Phase IIb study alone and in combination with semaglutide in adults who are overweight or obese. Combining incretins with bimagrumab has the potential to further reduce fat mass while preserving muscle mass and may lead to better outcomes for people living with obesity and obesity-related complications, according to information from Lilly.
With the closing, Versanis shareholders could receive up to $1.925 billion in cash, inclusive of an upfront payment and subsequent payments upon achievement of certain development and sales milestones.
Source: Eli Lilly and Company