Dice Therapeutics

History

2023: Eli Lilly bought Dice Therapeutics

On June 20, 2023, Eli Lilly announced a $2.4 billion deal to acquire Dice Therapeutics. With this takeover, the buyer expects to expand his portfolio of drugs for the treatment of immune-related diseases.

As stated in a joint press release, Eli Lilly will pay $48 per share of Dice Therapeutics, which is 40% higher than the average daily value of the latter's securities 30 days before the information about the offer appears. The deal is approved by the DICE Therapeutics board of directors in early June 2023 and is expected to close in the third quarter of 2023.

Eli Lilly acquires Dice Therapeutics

Combined with new technology and expertise in drug development, DICE Therapeutics talent and passion for innovation will strengthen our efforts to improve the lives of people living with devastating autoimmune diseases, said Eli Lilly Executive Vice President Patrick Jonsson.

Dice Therapeutics for 2023 is a biopharmaceutical company that uses a patented technology platform to develop new oral therapeutic drugs to treat autoimmune diseases in which the body's immune system mistakenly attacks a person's own cells instead of protecting them. The lead drug from Dice Therapeutics is in mid-stage trials to treat an immune-related skin disease called psoriasis.

Eli Lilly's June 2023 portfolio of immunological drugs includes drugs such as Taltz, which treats plaque psoriasis and Olumiant, a drug to treat rheumatoid arthritis. In 2022, sales of Taltz amounted to $2.48 billion, and Olumiant $830.5 million.

Autoimmune diseases can cause pain, fatigue, dizziness, depression, rash and other symptoms, according to WHO data for 2023. More than 100 autoimmune diseases are known, including lupus, rheumatoid arthritis, Crohn's disease and ulcerative colitis.^[1]

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