Eli Lilly and Company Completes Acquisition of Versanis Bio

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Eli Lilly and Company (NYSE: LLY) announced the completion of its acquisition of Versanis Bio. Versanis Bio is a Boston, MA-based company leveraging activin biology to develop therapeutics for obesity and cardiometabolic disease. The acquisition expands Lilly’s portfolio to include Versanis’ lead asset, bimagrumab, which is currently being assessed in a Phase 2b study alone and in combination with semaglutide in adults living with overweight or obesity. Under the terms of the agreement, Versanis shareholders could receive up to $1.925 billion in cash, inclusive of the upfront payment and subsequent payments upon achievement of certain development and sales milestones.

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