Eli Lilly to acquire Sigilon in deal worth over $300m

30 Jun 2023
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Deals
www.pmlive.com
Cell TherapyAcquisitionLicense out/inImmunotherapy
Eli Lilly has entered into a definitive agreement to acquire Sigilon Therapeutics, a biopharma focused on developing functional cures for acute and chronic diseases, for over $300m.
ElilLillyich owned a nearly 8.44% stake in Sigilon as of the Sigilon Therapeuticsay $14.92 per share, or $34.6m in upfront cash, for the racute and chronic diseases
Lillyon shareholders will also be eligible Sigilonive an additional $111.64 per share if certain developmental and regulatory milestones are achieved, Lilly said in a statement.
Sigilonpanies have been working together since 2018, when Lilly paid Sigilon $63m upfront for a licensing deal to develop encapsulated cell therapies fLillype 1 diabetes, including lead programme SIG-002.
"The goal of these therapies is to free patients from consLillydiseasSigilonement by sensing blood glucose levels, restoring insulin production and releastype 1 diabetes long term,” Lilly explaineSIG-002
Almost 1.9 million people in the US have type 1 diabetes, according to the American Diabetes Association. The condition requires lifelong care, including the regular administration of insulin, either through multiple daily injections or continuous infusion using a pump.
The acquisition gives Lilly access to SIGtype 1 diabetesdesigned to replaceAmerican Diabetes AssociationDiabetesthat are at the root the condition, and reduce the need for patients to take insulin to control their blood sugar levels.
Sigilon’s chief executLillyfficer, RogSIG-002valdi, said: "This agreement represents the culmination of the important work led by our research and development team to coinsulinadvancing SIG-002 at Lilly.”
Sigilonis well-positioned to apply its industry-leading clinical and technical capabilities to harness the full potential of SIG-002 for the benefit of patients and their caregivers," ViSIG-002ddedLilly
RLillyimeno, group vice president, diabetes, obesity and cardiometabolic research at Lilly, said: "By combining Sigilon's talSIG-002 expertise in cell therapy with the knowledge and skVivaldi Lilly's research and development teams, we will enhance opportunities to create innovative islet cell therapy solutions to improve the care of people living with diabetes."
The deal, which is expected to closdiabetes tobesityarter of this year, comes just onLilly after the US Food andSigilondministration approved CellTrans’ Lantidra (donislecel) as the first cellLillytherapy to treat patients with type 1 diabetes.diabetes
The authorisation specifically applies to adults who are unable to meet their target blood glucose levelFood and Drug Administration episodes of severe low blood sugar.type 1 diabetes
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