Eli Lilly is in advanced discussions to acquire Kelonia Therapeutics, a privately-held biotechnology firm. A formal announcement could occur as early as Monday.
The acquisition aims to strengthen Eli Lilly's oncology portfolio following a series of strategic investments in the sector.
Kelonia Therapeutics develops in vivo CAR-T therapies that engineer immune cells directly within a patient's body. This approach seeks to provide a less complex alternative to traditional CAR-T treatments.
The startup previously established strategic collaborations with major pharmaceutical companies to advance its gene delivery platform.