Eli Lilly to Acquire Vaccine Company for Up to $1.55 Billion

Eli Lilly to Acquire Merida Biosciences

August 31, 2026

Biotechnology

Eli Lilly and Company has agreed to acquire Merida Biosciences for up to $2.875 billion in cash, including an upfront payment and contingent milestone payments. The acquisition is intended to expand Lilly’s precision immunology platform for selectively targeting disease-causing antibodies across autoimmune and allergic conditions, including Graves’ disease and thyroid eye disease.

Eli Lilly Acquires Curevo (Shingles) and LimmaTech Biologics (Bacterial Vaccines)

May 26, 2026

Pharmaceuticals

Eli Lilly entered definitive agreements to acquire Curevo Vaccine and LimmaTech Biologics as part of a broader expansion of its infectious disease R&D platform. Lilly will acquire Curevo for up to $1.5 billion and LimmaTech Biologics for up to $780 million, with upfront and additional milestone-based payments.

Eli Lilly Acquires Kelonia Therapeutics for Up to $7 Billion

April 20, 2026

Biotechnology

Eli Lilly has announced a definitive agreement to acquire Kelonia Therapeutics, a clinical-stage biotechnology company developing in vivo CAR-T cell therapy via its proprietary gene delivery platform. The deal is valued at up to $7 billion, including a $3.25 billion upfront payment, with additional clinical, regulatory, and commercial milestone payments. Closing is expected in the second half of 2026, subject to customary approvals.

Eli Lilly and Company to Acquire Ventyx Biosciences

January 8, 2026

Pharmaceuticals

Eli Lilly and Company has entered into a definitive agreement to acquire Ventyx Biosciences for approximately $1.2 billion. The deal values Ventyx at $14.00 per share in cash and is expected to close in the first half of 2026, subject to shareholder and regulatory approvals.

Eli Lilly Acquires Adverum Biotechnologies

December 9, 2025

Biotechnology

Eli Lilly and Company agreed to acquire Adverum Biotechnologies in a cash-and-contingent-value-rights tender offer for all outstanding shares. The total consideration is $3.56 per share in cash at closing plus a CVR that could pay up to $8.91 per share upon achievement of specified milestones, with the transaction expected to close in the fourth quarter of 2025.

Sanofi to Acquire Vicebio for Up to $1.6 Billion

July 25, 2025

Healthcare Services

Sanofi has entered an exclusive, definitive agreement to acquire biopharmaceutical company Vicebio for up to US$1.6 billion, comprising a US$1.15 billion upfront payment plus up to US$450 million in development and regulatory milestones. The deal is aimed at accelerating Vicebio’s next-generation respiratory virus vaccine platform, including lead candidate VXB-241 targeting RSV and hMPV.