Lilly Tries New Neuro Approach With Disarm Buyout
Deal Snapshot: Lilly bets $135m on biotech’s preclinical SARM1 inhibitor program, seeing potential in peripheral neuropathy and possibly some bigger targets in neurology like MS and ALS.
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Private Company Edition: Recent biopharma venture capital financings add up to $1.7bn, including a $135m crossover round for HilleVax after spinning out of Takeda in July to advance a norovirus vaccine, Skyhawk’s $133m in fresh funding and Obsidian’s $115m series B round.
Pharma pays $50m up front to tap insitro’s in vitro modeling technology, partners with Sensyne Health in blood disorders. Lilly’s COVID-19 partner AbCellera teams with Kodiak in ophthalmology R&D.
Lilly has agreed to pay $1.4bn to acquire Point even though the company’s two lead candidates are out-licensed to Lantheus. The deal looks like an early-stage play to build a strong position in an emerging field.