Eli Lilly and Co.
LLY,
will acquire Versanis Bio, a private clinical-stage biopharma company focused on new treatments for cardiometabolic diseases, the companies said in a release Friday. Versanis is developing a monoclonal antibody called bimagrumab that is being studied alone and in combination with the popular weight-loss drug semaglutide to potentially further reduce fat mass while preserving muscle. Under terms of the deal, Versanis shareholders could receive up to $1.925 billion in cash, based on an upfront payment and achievement of certain development and sales milestones, according to the release. Lilly shares were up 0.7% in premarket trading Friday.
