Eli Lilly to Buy Kelonia for Up to $7 Billion as In Vivo CAR-T Gains Ground
Eli Lilly on Monday agreed to buy Boston’s Kelonia Therapeutics in a deal valued at up to $7 billion in cash, adding a fresh in vivo cell therapy play to its pipeline. The drugmaker will pay $3.25 billion upfront, with the balance subject to hitting clinical, regulatory, and commercial milestones. This counts for Lilly, which is currently pouring cash into expanding outside its obesity business—even as rivals close in on the weight-loss drug market. The deal hands Lilly a stronger foothold in oncology too. IQVIA projects worldwide cancer drug spending could jump from about $223 billion last year to $409 billion by 2028.