An agreement was reached by Eli Lilly to acquire Disarm Therapeutics, a privately-owned biotechnology firm, for one hundred and thirty-five million dollars. The deal will allow Disarm equity holders to secure up to one-point-two billion dollars in additional future payments for potential regulatory, development and commercial milestones based on the successful promotion and development of new medicines, as a result of the acquisition.
Dr Alvin Shih, Disarm Therapeutics’ CEO, stated: “Disarm’s innovative approach to treating axonal degeneration holds tremendous promise for addressing a wide spectrum of neurological diseases and we have made significant strides toward enabling potentially transformative therapies.”
“Eli Lilly to acquire Disarm Therapeutics.“
Dr Mark Mintun, Vice President of Lilly pain and neurodegeneration research, stated: “The scientific team at Disarm discovered an important and highly promising approach to combat axonal degeneration. We will move quickly to develop their SARM1 inhibitors into potential medicines for peripheral neuropathy and neurological diseases - such as ALS and multiple sclerosis.”