Eli Lilly to buy genetic medicine developer Akouos for $487 million

Eli Lilly to acquire hearing loss startup for up to $618M

Eli Lilly & Co. is scooping up a local gene-editing startup at a 121% premium.

Eli Lilly to buy gene therapy company Akouos for $487 million

(Reuters) -Eli Lilly and Co will acquire genetic medicine developer Akouos Inc for about $487 million in cash as the drugmaker aims to bolster its arsenal of gene therapies that target a range of disabilities.Shares of Akouos, which is developing gene therapies for sensorineural hearing loss, soared 84% to trade 40 cents above Lilly’s offer price of $12.50 before the opening bell.The deal also includes a payment of $3 per share contingent on cer…

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Eli Lilly to buy genetic medicine developer Akouos for $487 million

Drugmaker Eli Lilly and Co will acquire genetic medicine developer Akouos Inc in a cash deal worth about $487 million. Lilly will also pay Akouos' shareholders an additional amount contingent on certain events related to its trials, which will take the total size of the deal to up to $610 million. (This story has corrected paragraph 2 to say the deal would be valued at $610 million

Eli Lilly to acquire Akouos for up to about $610 million and develop gene therapies for hearing loss

Eli Lilly and Co. undefined said Tuesday it has entered an agreement to acquire Akouos Inc. undefined, a company developing a portfolio of viral gene...

Lilly to Acquire Akouos for Up to $610M, Expanding Gene Therapy Focus

Eli Lilly has agreed to acquire Akouos for up to $610 million, in a deal intended to expand the buyer’s presence in gene therapy with a focus on treating inner ear disorders.