Eli Lilly To Acquire Kelonia Therapeutics

Published: 2026-05-11 04:09:09 ET LLY

Published on 05/11/2026 at 04:09 am EDT

On April 20, 2026, Eli Lilly & Company (“Lilly”) and Kelonia Therapeutics, Inc. (“Kelonia”) announced an agreement for Lilly to acquire Kelonia in an all-cash transaction expected to close in the second half of 2026. Under the terms of the agreement, Kelonia shareholders will receive an upfront payment of $3.25 billion and a possible total of $7 billion dependent on the achievement of certain clinical, regulatory, and commercial milestones.

Kelonia, a clinical-stage biotechnology company, has developed a lentiviral-based system capable of delivering transgenes selectively to T-cells. This proprietary gene placement system, iGPS®, enables a patient's body to generate chimeric antigen receptor T-cells (CAR-T) in vivo for the treatment of cancer. Kelonia's lead program, KLN-1010, an anti-BCMA (B-cell maturation antigen) CAR-T therapy, is currently being evaluated in a Phase I trial enrolling patients with relapsed and refractory multiple myeloma (RRMM).

Goodwin Procter is legal counsel for Kelonia in this transaction.

Darlene Staines Goodwin Procter LLP The New York Times Building 620 Eighth Avenue New York NY 10018 UNITED STATES Tel: 212813 8800 E-mail: [email protected] URL: www.goodwinlaw.com