Eli Lilly and Company (NYSE: LLY), an Indianapolis, IN-based pharmaceutical manufacturing company, acquired Versanis Bio, a Boston, MA-based clinical-stage biopharmaceutical company.
Under the terms of the agreement, which is subject to customary conditions, Versanis shareholders would receive up to $1.925 billion USD in cash, inclusive of an upfront payment and subsequent payments upon achievement of certain development and sales milestones.
Founded in 2021 by Aditum Bio, Versanis Bio is a clinical-stage biopharmaceutical company focused on the development of new medicines for the treatment of cardiometabolic diseases. Its lead asset is bimagrumab, a first-in-class, fully human monoclonal antibody to activin type II receptors that blocks binding of ligands including myostatin, activins, and GDF11. Bimagrumab is currently being assessed in the BELIEVE Phase 2b study alone or in combination with semaglutide in adults living with overweight or obesity. Combining incretins with bimagrumab has the potential to improve the quality and durability of weight loss.
FinSMEs
14/07/2023