📢 𝗝𝗨𝗦𝗧 𝗜𝗡: $LLY Eli Lilly to Acquire Merida Biosciences for Up to $2.875 Billion 👉 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀: ➤ 𝗘𝗹𝗶 𝗟𝗶𝗹𝗹𝘆 will acquire 𝗠𝗲𝗿𝗶𝗱𝗮 𝗕𝗶𝗼𝘀𝗰𝗶𝗲𝗻𝗰𝗲𝘀 for up to $𝟮.𝟴𝟳𝟱 𝗯𝗶𝗹𝗹𝗶𝗼𝗻. ➤ Deal includes an upfront cash payment plus contingent milestone payments. ➤ Acquisition strengthens Lilly's pipeline across 𝗮𝘂𝘁𝗼𝗶𝗺𝗺𝘂𝗻𝗲 and 𝗮𝗹𝗹𝗲𝗿𝗴𝗶𝗰 diseases. ➤ Merida's platform selectively degrades 𝗱𝗶𝘀𝗲𝗮𝘀𝗲-𝗰𝗮𝘂𝘀𝗶𝗻𝗴 𝗮𝘂𝘁𝗼𝗮𝗻𝘁𝗶𝗯𝗼𝗱𝗶𝗲𝘀 while preserving normal immune function. ➤ Lead candidate 𝗠𝗘𝗥𝟱𝟭𝟭 is in Phase 1 development. ➤ MER511 targets 𝗚𝗿𝗮𝘃𝗲𝘀' 𝗱𝗶𝘀𝗲𝗮𝘀𝗲 and thyroid eye disease. ➤ Initial Phase 1 data showed robust 𝗽𝗮𝘁𝗵𝗼𝗴𝗲𝗻𝗶𝗰 𝗮𝗻𝘁𝗶𝗯𝗼𝗱𝘆 reductions. ➤ Merida's pipeline also includes 𝗠𝗘𝗥𝟳𝟲𝟵 targeting multiple allergic diseases. ➤ Transaction is expected to close in the 𝗳𝗼𝘂𝗿𝘁𝗵 𝗾𝘂𝗮𝗿𝘁𝗲𝗿 𝗼𝗳 𝟮𝟬𝟮𝟲. 👉 𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀: ➤ Adds a differentiated 𝗽𝗿𝗲𝗰𝗶𝘀𝗶𝗼𝗻 𝗶𝗺𝗺𝘂𝗻𝗼𝗹𝗼𝗴𝘆 platform to Lilly's pipeline. ➤ Approach targets disease-causing antibodies rather than broadly suppressing immune function. ➤ Platform could potentially address numerous 𝗮𝗻𝘁𝗶𝗯𝗼𝗱𝘆-𝗱𝗿𝗶𝘃𝗲𝗻 diseases beyond its lead indication. ➤ Deal expands Lilly's exposure to high-unmet-need 𝗮𝘂𝘁𝗼𝗶𝗺𝗺𝘂𝗻𝗲 therapeutics. 👉 𝗘𝘅𝗽𝗲𝗿𝘁 𝗦𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁𝘀: 𝗙𝗿𝗮𝗻𝗰𝗶𝘀𝗰𝗼 𝗥𝗮𝗺í𝗿𝗲𝘇-𝗩𝗮𝗹𝗹𝗲, 𝗠.𝗗., 𝗣𝗵.𝗗., Senior Vice President, Lilly Immunology Research and Early Clinical Development: "We're building our pipeline around therapies that meaningfully change the course of disease, not just its downstream effects. Merida's lead program is designed to do exactly that: selectively and directly eliminating the autoantibodies causing Graves' disease and thyroid eye disease, while preserving normal immune function, with initial Phase 1 data already pointing to the potential for improved efficacy and safety," said Francisco Ramírez-Valle, M.D., Ph.D., senior vice president, Lilly immunology research and early clinical development. "We see potential to apply this precision approach across a broad range of antibody-driven diseases, and we look forward to advancing this novel technology working with the Merida team." 𝗔𝗱𝗮𝗺 𝗧𝗼𝘄𝗻𝘀𝗲𝗻𝗱, Chief Executive Officer of Merida: "Merida was founded to fundamentally change how autoimmune and allergic diseases are treated, by targeting the antibodies driving them directly, rather than suppressing the immune system broadly. Under our CSO and founder Dario Gutierrez's scientific leadership, our team has advanced that idea from concept to clinical data, and what we've seen so far reinforces our conviction that this approach can make a meaningful difference for patients," said Adam Townsend, chief executive officer of Merida. "Today's announcement reflects the hard work of the entire Merida team, and joining Lilly gives our science the resources and commitment to realize its potential for patients with immune-mediated conditions."