Eli Lilly to Buy Disarm Therapeutics for Initial $135 Million
16 October 2020 - 1:04AM
Dow Jones News
By Colin Kellaher
Eli Lilly & Co. Thursday said it agreed to buy
privately-held biotechnology company Disarm Therapeutics for an
initial $135 million in a deal that expands its efforts in pain and
neurodegeneration.
The Indianapolis drug maker said Disarm's shareholders could
receive up to $1.225 billion in additional payments based on the
successful development and commercialization of new products
resulting from the acquisition.
Eli Lilly said Disarm has discovered a promising approach to
combat axonal degeneration, a characteristic event in many
neurodegenerative conditions. The company said it will move quickly
to develop Disarm's SARM1 inhibitors into potential medicines for
peripheral neuropathy and neurological diseases, such as
amyotrophic lateral sclerosis and multiple sclerosis.
Disarm, based in Cambridge, Mass., was founded in 2016 and
raised $30 million in a Series A financing the following year.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 15, 2020 09:49 ET (13:49 GMT)
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