By Adriano Marchese
Eli Lilly will acquire DICE Therapeutics for $2.4 billion, the two companies said in a joint statement on Tuesday.
DICE’s stock jumped on the news, rising 40% in premarket trading on Tuesday, from Friday’s closing of $33.85 a share.
DICE is a biopharmaceutical company that uses its proprietary DELSCAPE technology platform to develop novel oral therapeutic candidates, including oral IL-17 inhibitors which aim to treat chronic immunological diseases.
Eli Lilly will pay $48 a share to acquire DICE, representing a premium of about 40% to DICE’s 30-day volume-weighted average trading price up to its last trading day on Friday. The transaction is expected to close in the third quarter of this year.
Write to Adriano Marchese at [email protected]
Read the full article here
