Lilly inks $2.4B cash deal to buy DICE and its immunology pipeline
Eli Lilly is joining the “blistering” pace of M&A this year as it bets $2.4 billion in cash on DICE Therapeutics, a publicly traded biotech with oral IL-17 inhibitors in the clinic.
DICE’s stock $DICE soared about 38% in premarket trading on Tuesday morning after Lilly said it’s buying the South San Francisco biotech, which has a small molecule inhibitor called DC-806, for psoriasis and other autoimmune and inflammatory diseases in Phase II clinical trials. It marks a return to oral IL-17s for Lilly, which scrapped its own early-stage project last year.
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