Eli Lilly agreed on 31 August to acquire Merida Biosciences, a developer of precision therapies for autoimmune and allergic diseases, for up to $2.875bn in cash.
Why Eli Lilly and Company is buying Merida Biosciences
Lilly said Merida's antibody-engineering platform is designed to remove disease-causing antibodies precisely and durably while preserving normal immune function, strengthening its immunology pipeline.
“We’re building our pipeline around therapies that meaningfully change the course of disease, not just its downstream effects.”
Deal terms and financing
The price includes an upfront payment and contingent milestone payments; Lilly did not disclose the split.
Regulatory approvals and timing
Closing is expected in the fourth quarter of 2026, subject to regulatory approvals and customary conditions.
Market context
Initial Phase 1 data showed MER511 substantially lowered thyroid-stimulating antibodies with a favourable early safety profile. Lilly's deal spending in 2026 has outpaced prior years as it expands beyond obesity and diabetes, Reuters reported.
