09:12 AM EDT, 04/20/2026 (MT Newswires) -- Eli Lilly (LLY) said Monday it has entered a definitive agreement to acquire Kelonia Therapeutics for up to $7 billion in cash.

Under the terms of the deal, the $7 billion cash payment is inclusive of an upfront payment of $3.25 billion and subsequent payments "upon achievement of certain clinical, regulatory and commercial milestones,"Lilly said.

The deal is expected to close in H2, subject to customary closing conditions, the company said.