US-based pharmaceutical group Eli Lilly seems unstoppable in M&A–after informing on Thursday that it had acquired Armo Bioscience for $1.6bn, it has announced today a new deal. Indeed, shortly before Wall Street opened, the Indianapolis-based group announced it has acquired Montreal, Canada-based AurKa Pharma from the investor TVM Capital Life Science. As part of the agreement, Eli Lilly will pay Aurka an upfront $110m, plus an additional $465m subject to fulfillment of precise commercial and regulatory milestones. AurKa’s main asset is AK-01, a treatment currently undergoing Phase I clinical trial in patients with multiple solid tumors. AK-01 was firstly discovered by Eli Lilly, which in 2016 sold it to the TVM Capital Life fund, which then established AurKa. Eli Lilly’s shares remained stable after the acquisition was announced.
(Source: Eli Lilly)