Pharmaceutical Business review

Eli Lilly and Company completes acquisition of Versanis Bio

Bimagrumab is presently being evaluated in BELIEVE Phase IIb trial alone and also in combination with semaglutide in adults who are overweight or obese. Credit: Joachim Schnürle from Pixabay.

Lilly signed the definitive agreement to acquire Versanis Bio in July this year.

At the time of the deal announcement, its terms specified that shareholders of Versanis were to receive up to $1.92bn in cash, which includes upfront payment and subsequent payments following achievement of some development and sales milestones.

The deal widens Lilly’s portfolio to include Versanis’ lead asset, bimagrumab.

A monoclonal antibody, bimagrumab binds activin type II A and B receptors to block activin and myostatin signaling.

Bimagrumab is presently being evaluated in BELIEVE Phase IIb trial alone and also in combination with semaglutide in adults who are overweight or obese.

By combining incretins with bimagrumab, there is a potential to further cut down fat mass while preserving muscle mass and may lead to better results for people living with obesity and obesity-associated complications.

Lilly diabetes, obesity and cardiometabolic research group vice president Ruth Gimeno said: “Combining our current incretin portfolio, including tirzepatide, with activin receptor blockers such as bimagrumab, could be the next major step in innovative treatments for those living with cardiometabolic diseases, like obesity.”

“The wealth of knowledge that our new colleagues from Versanis will bring to Lilly will propel our research and development efforts forward, ultimately benefiting patients around the world.”

For Lilly, Kirkland & Ellis served as legal counsel.

For Versanis, Goodwin Procter acted as legal counsel, J.P. Morgan and Company as financial advisor, and Cooley as advisor on patent matters.