Eli Lilly To Snap Up Disarm In $135M Deal; Street Stays Bullish

Eli Lilly & Co. announced a definitive agreement to snap up privately-held biotechnology company Disarm Therapeutics for $135 million, in a bid to a develop a new class of disease-modifying therapeutics for patients with axonal degeneration.Under the terms of the agreement, Disarm shareholders will be eligible for up to $1.225 billion in future payments for potential development, regulatory and commercial milestones should Lilly (LLY) successfully develop and commercialize new medicines resulting from the acquisition. Axonal degeneration is a common, yet unaddressed, pathology in a broad range of neurological diseases and is known to cause severe sensory, motor, and cognitive symptoms.Disarm …read more

Source:: Yahoo Finance