Overview
- Lilly said Monday it will acquire Kelonia for $3.25 billion in cash upfront with up to $3.75 billion in milestone payments.
- The companies expect the deal to close in the second half of 2026, subject to regulatory approvals and customary conditions.
- Kelonia’s lead therapy, KLN‑1010, aims to treat multiple myeloma by programming a patient’s T cells inside the body from a single IV dose without preconditioning chemotherapy.
- Early Phase 1 data presented at ASH 2025 showed all four treated patients reached MRD‑negative status with follow‑up to five months, which signals promise yet leaves durability and long‑term safety to be proved.
- The purchase fits Lilly’s deal spree to diversify beyond its weight‑loss and diabetes drugs, follows recent buys like Orna and Centessa, and pays a steep premium for a startup that had raised about $60 million.