Versanis

History

2023: Eli Lilly bought Versanis for $1.93 billion

On July 14, 2023, the American company Eli Lilly announced an agreement to acquire Versanis, a private biopharmaceutical firm. The transaction amount is approximately $1.93 billion.

Versanis specializes in the development of drugs for the treatment of cardiometabolic diseases. Such means are also intended for people with overweight or obesity. One of the key assets of Versanis is bimagrumab, a monoclonal antibody aimed at the therapy of pathological atrophy of muscle tissue and weakness. The substance can be used to reduce fat mass. Experts say that one of the main problems associated with weight loss drugs is the loss of muscle mass. The goal is to lose more fat than muscle, but with any weight loss program, limiting calories consumed can affect both measures. Bimagrumab solves this problem.

Eli Lilly bought biopharmaceutical company Versanis for $1.93 billion

Under the terms of the concluded agreement, the transaction will be carried out at the expense of funds. This includes the down payment and subsequent payments. Necessary regulatory approvals will be required to complete the takeover. The timing of the closure of the transaction has not been specified. The asset transfer is overseen by lawyers for Kirkland & Ellis LLP, Goodwin Procter LLP, Cooley LLP and J.P. Morgan and Company.

Eli Lilly aims to investigate promising new drugs to fight cardiometabolic diseases, including obesity, a chronic ailment that affects more than 100 million Americans. Combining the knowledge and expertise of companies will help to offer the best solutions for patients, "said Ruth Gimeno, vice president of the diabetes, obesity and cardiometabolic research group at Eli Lilly.[1]

Notes