Eli Lilly and Company / Kelonia Therapeutics, Inc.
2026 · Acquisition/Merger · $7.0B · Pending
Announcement Sentiment
91
Strongly positive
Eli Lilly agreed to acquire Kelonia Therapeutics for up to $7B ($3.25B upfront + milestones). Gains in vivo CAR-T platform iGPS and lead candidate KLN-1010 (Phase 1 anti-BCMA for multiple myeloma). Second in vivo cell therapy bet in 2026 after the Orna deal. Expected close H2 2026. UPDATE (review 2026-06-07): Deal remains pending, expected to close H2 2026 (no closing 8-K yet). At ASCO 2026 (data released May 31, 2026) Kelonia reported updated Phase 1 inMMyCAR results for KLN-1010: 18 patients dosed, with MRD-negative responses in all evaluable patients (4 stringent complete responses and 2 VGPRs among 6 patients with >=4 months follow-up), the first patient in ongoing MRD-negative response beyond 10 months, and a manageable safety profile (all CRS Grade 1-2), materially de-risking the lead asset Lilly is acquiring.
Key facts
AnnouncedApr 20, 2026
Deal value$7.0B
Deal typeAcquisition/Merger
Therapeutic areaMultiple myeloma (Phase 1); expansion planned to additional hematologic and solid tumors
IndicationsMultiple myeloma (Phase 1); expansion planned to additional hematologic and solid tumors
Key assetsKLN-1010 (in vivo anti-BCMA CAR-T via iGPS lentiviral particle platform)
MechanismIn vivo CAR-T - engineered lentiviral-based particles (iGPS) selectively enter T-cells in vivo to generate CAR-T without ex vivo manufacturing