Eli Lilly Signs Agreement To Acquire Kelonia Therapeutics For $7B In Cash, Including $3.25B Upfront Payment

Eli Lilly and Company (NYSE: LLY) and Kelonia Therapeutics, Inc. ("Kelonia"), a clinical-stage biotechnology company pioneering in vivo gene delivery, today announced a definitive agreement for Lilly to acquire Kelonia.

Under the terms of 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.