Eli Lilly Scoops Up Protomer Technologies In Over $1B Deal

Eli Lilly And Co LLY has acquired privately-held biotech firm Protomer Technologies in a deal valued at more than $1 billion.
Lilly previously led an equity investment in Protomer alongside the JDRF T1D Fund, providing Lilly with 14% ownership.
Protomer offers a peptide- and protein engineering platform to identify and synthesize molecules that can sense glucose or other endogenous modulators of protein activity.
Aquilo Partners LP is acting as a financial advisor, and Morrison & Foerster LLP a legal advisor to Protomer.
Kirkland & Ellis LLP is serving as Lilly's legal counsel.
Price Action: LLY shares closed at $235.3 on Tuesday.

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