Eli Lilly and Company to acquire DICE Therapeutics

Key takeaways:

• Eli Lilly will acquire DICE’s pipeline including two oral interleukin-17 inhibitors currently in clinical development.
• Lilly will offer DICE $48 per share, an aggregate price of $2.4 billion in cash.

Eli Lilly and Company will acquire DICE Therapeutics at the end of the third quarter of 2023, according to an Eli Lilly and Company press release.

Eli Lilly will be acquiring DICE’s pipeline including two oral interleukin (IL)-17 inhibitors, DC-806 and DC-853, that are currently in clinical development for the treatment of psoriasis and other IL-17-mediated chronic immunology indications.

“In combination with its novel technology and expertise in drug discovery, DICE’s talented workforce and passion for innovation will enhance our efforts to make life better for people living with devastating autoimmune diseases,” Patrik Jonsson, Lilly executive vice president, Lilly Immunology president, and Lilly U.S. chief customer officer, said in the release. “We welcome DICE colleagues to Lilly and, together, we can tackle the challenges ahead in finding new treatments for patients with significant unmet medical needs.”

According to the release, Lilly will offer DICE $48 per outstanding share, an aggregate price of $2.4 billion, payable in cash at closing. The boards of directors for both companies have approved the transaction.

Reference:

• DICE Therapeutics Pipeline. https://www.dicetherapeutics.com/pipeline/. Accessed June 22, 2023.