Eli Lilly said on 26 May that it had agreed to acquire LimmaTech Biologics, a Swiss clinical-stage vaccine developer, for up to $780m in cash.
Why Eli Lilly and Company is buying LimmaTech Biologics AG
Lilly said the three acquisitions reflect a strategy of preventing disease at its source, and that vaccines are increasingly the only route to prevention as antimicrobial resistance erodes treatment options. LimmaTech's platform targets the toxins and superantigens that drive bacterial disease rather than surface antigens.
“These acquisitions reflect a deliberate strategy to prevent disease at its source rather than treat its consequences.”
Deal terms and financing
The consideration includes an upfront payment and further payments tied to clinical and regulatory milestones; the split was not disclosed.
Regulatory approvals and timing
The transactions are subject to customary closing conditions, including expiry of the Hart-Scott-Rodino waiting period in the US.
Market context
Besides its Staphylococcus aureus programme, LimmaTech has preclinical vaccines against gonorrhoea and chlamydia. Its investors included Adjuvant Capital, BNP Paribas Asset Management Alts, the Novo Holdings REPAIR Impact Fund and Tenmile.
