Eli Lilly Acquires Sigilon Therapeutics
June 29, 2023
Eli Lilly agreed to acquire Sigilon Therapeutics in a cash tender offer valuing the biotech at roughly $34.6 million up front plus contingent value rights that could increase total consideration to about $309.6 million. The acquisition brings Sigilon's encapsulated cell therapy platform (including SIG-002 for type 1 diabetes) into Lilly's diabetes and cell-therapy R&D efforts to accelerate development and potential commercialization.
- Buyers
- Eli Lilly and Company
- Targets
- Sigilon Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Transaction Type
- Buyout
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