Lilly to Pay Up to $2.875B for Merida Biosciences' Antibody Platform
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INDIANAPOLIS and CAMBRIDGE, Mass. -- Aug. 31, 2026 -- Eli Lilly and Company agreed to pay up to $2.875 billion in cash to acquire Merida Biosciences, a Cambridge, Massachusetts-based biotechnology company developing antibody-degrading therapies for autoimmune and allergic diseases. The figure includes an upfront payment plus contingent milestone payments under a definitive agreement announced by both companies. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the fourth quarter of 2026.