Lilly shelling out $1 billion to buy Protomer

15 July 2021

US pharma major Eli Lilly (NYSE: LLY) yesterday announced the acquisition of Protomer Technologies, a private company based in California.

Protomer's proprietary peptide- and protein-engineering platform is used to identify and synthesize molecules that can sense glucose or other endogenous modulators of protein activity.

The potential value of the transaction is over $1 billion, with successful achievement of future development and commercial milestones. Lilly previously led an equity investment in Protomer alongside the JDRF T1D Fund, providing Lilly with 14% ownership of the company. Lilly is acquiring the remainder of the stock of Protomer beyond its initial investment.

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