India, Aug. 31 -- Eli Lilly and Co. (LLY) announced on Monday that it has agreed to acquire Merida Biosciences, a biotechnology company developing precision therapeutics for autoimmune and allergic diseases, in a transaction valued at up to $2.875 billion.
Merida's antibody-engineering platform is designed to selectively degrade disease-causing auto antibodies while preserving normal immune function. Its lead program, MER511, is in Phase 1 trial for Graves' disease and thyroid eye disease, with initial data showing robust reductions in pathogenic antibodies and a favorable safety profile.
The acquisition is expected to strengthen Lilly's immunology pipeline and expand its opportunity to elevate the standard of care for immune-mediated con...