UPDATED: Eli Lilly swoops in to buy a small protein drug developer and its glucose responsive insulin in $1B-plus deal
Eight months after taking the lead on an investment in Protomer Technologies and its glucose responsive insulin, Eli Lilly is coming back for the whole thing.
The big diabetes player said Wednesday morning that it is committing up to $1 billion-plus to snag ownership of the fledgling biotech and its technology, though they didn’t say how much they were fronting in cash.
Lilly made no secret of its interest in the next-gen protein therapeutics company, which has been at work on insulin “that can sense sugar levels in the blood and automatically activate as needed throughout the day.”
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