Eli Lilly completes acquisition of Versanis Bio

Eli Lilly and Company announced the successful completion of its acquisition of Versanis Bio. The acquisition expands Lilly’s portfolio to include Versanis’ lead asset, bimagrumab, which is currently being assessed in a Phase 2b study alone and in combination with semaglutide in adults living with overweight or obesity. Under the terms of the agreement, Versanis shareholders could receive up to $1.925B in cash, inclusive of the upfront payment and subsequent payments upon achievement of certain development and sales milestones.