M&A Deal Summary

Lilly Acquires Versanis

On July 14, 2023, Lilly acquired life science company Versanis for 1.9B USD

Acquisition Highlights
  • This is Lilly’s 24th transaction in the Life Science sector.
  • This is Lilly’s 6th largest (disclosed) transaction.
  • This is Lilly’s 27th transaction in the United States.
  • This is Lilly’s 2nd transaction in New York.

M&A Deal Summary
Date 2023-07-14
Target Versanis
Sector Life Science
Buyer(s) Lilly
Deal Type Add-on Acquisition
Deal Value 1.9B USD
Advisor(s) J.P. Morgan Securities (Financial)
Goodwin Procter (Legal)

Target

Versanis

New York, New York, United States
Versanis is a privately held, clinical-stage biopharmaceutical company bringing transformational treatments to people living with cardiometabolic disease. The company's lead asset, bimagrumab, is being advanced in the BELIEVE Phase 2b study as a novel treatment to help adults achieve and maintain both fat loss and a healthy body composition, with additional indications to follow. Versanis was founded in 2021 and is based in New York, New York.

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Buyer(S) 1

Buyer

Lilly

Indianapolis, Indiana, United States
Category Company
Founded 1876
Sector Life Science
Employees43,000
Revenue 34.1B USD (2023)
DESCRIPTION
Entrance to Eli Lilly's campus in Indianapolis, Indiana.
Entrance to Eli Lilly's campus in Indianapolis, Indiana.

Lilly discovers, develops, manufactures, and markets products in two business segments—human pharmaceutical products and animal health products. The mission of its human pharmaceutical business is to make medicines that help people live longer, healthier, more active lives. Most of the products Eli Lilly sells were discovered or developed by its own scientists, and the Company's success depends to a great extent on its ability to continue to discover, develop, and bring to market innovative new medicines. Eli Lilly's animal health business, operating through its Elanco division, develops, manufactures, and markets products for both food animals and companion animals. Eli Lilly manufactures and distributes its products through facilities in the US, Puerto Rico, and 11 other countries. Lilly was founded in 1876 and is based in Indianapolis, Indiana.

DEAL STATS #
Overall 31 of 34
Sector (Life Science) 24 of 27
Type (Add-on Acquisition) 24 of 27
State (New York) 2 of 2
Country (United States) 27 of 29
Year (2023) 3 of 5
Size (of disclosed) 6 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-29 Sigilon

Cambridge, Massachusetts, United States

Sigilon is a biopharmaceutical company that develops functional cures for patients with chronic diseases. Its lead product candidate is SIG-001, which is in Phase I/II clinical trial to prevent bleeding episodes in patients with moderate-severe to severe Hemophilia A. The company is also developing SIG-005 to treat the non-neurological manifestations of the disease in patients with mucopolysaccharidosis type 1; and SIG-002 designed to replace islet cells for the treatment of type 1 diabetes. Sigilon was formed in 2015 and is based in Cambridge, Massachusetts.

Buy €310M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-18 Mablink

Lyon, France

Mablink is a biotechnology company developing the next generation of an emerging class of cancer drugs called antibody-drug conjugates (ADCs). Mablink’s patented hydrophilic drug-linker technology, PSARLink™, enables the design of homogeneous, plasma- stable, next generation ADCs with high DAR (drug-to-antibody ratio) while maintaining excellent pharmacological properties and tolerability. Mablink was founded in 2018 and is based in Lyon, France.

Buy -
Mergr

Product

Company

Legal