Eli Lilly Acquires Kelonia Therapeutics in $2+ Billion Cancer Therapy Deal
Eli Lilly plans to acquire Kelonia Therapeutics for more than $2 billion, in addition to milestone payments, to bolster its in vivo CAR-T cancer treatment portfolio. The transaction is expected to finalize in the latter half of 2026 and centers on KLN-1010, a gene therapy targeting multiple myeloma. Results from Phase 1 trials will be showcased at the 2025 ASH Annual Meeting. Kelonia's innovative iGPS technology facilitates the creation of CAR-T therapies within T-cells, streamlining the approach compared to traditional autologous methods. Lilly's strategy aims to overcome challenges related to manufacturing and accessibility. This acquisition follows Lilly's $2.4 billion acquisition of Orna Therapeutics in February and a commitment of up to $1 billion over five years to AI-driven drug discovery with Nvidia.
Key facts
- Eli Lilly is acquiring Kelonia Therapeutics for over $2 billion
- The deal includes additional milestone payments
- Transaction expected to close in second half of 2026
- Focus is on Kelonia's lead program KLN-1010 targeting multiple myeloma
- Early clinical results presented at 2025 ASH Annual Meeting
- Kelonia's iGPS technology uses lentiviral-based particles for in vivo CAR-T
- Lilly previously acquired Orna Therapeutics for $2.4 billion in February
- Lilly launched AI lab with Nvidia with up to $1 billion commitment over five years
Entities
Institutions
- Eli Lilly
- Kelonia Therapeutics
- Orna Therapeutics
- Nvidia
- ASH Annual Meeting
Sources
- Quartz —