Lil­ly to buy Eu­ro­pean ADC biotech; Ab­b­Vie ends SHP2 work with Ja­co­bio

Eli Lil­ly ac­quired all shares of Emer­gence Ther­a­peu­tics, Hei­del­berg Phar­ma said last week.

The Ger­man phar­ma­ceu­ti­cal com­pa­ny was a mi­nor share­hold­er in Emer­gence, a biotech based in Ger­many and France that is de­vel­op­ing an­ti­body-drug con­ju­gates for can­cer. Hei­del­berg made $7 mil­lion from the trans­ac­tion. The news of the ac­qui­si­tion was first re­port­ed in Bio­phar­ma Dive.

Emer­gence’s lead drug is an ADC that the com­pa­ny is test­ing in blad­der can­cer. — Lei Lei Wu

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