10:23 AM EDT, 04/20/2026 (MT Newswires) -- US pharmaceutical giant Eli Lilly (LLY.SW, LLY.F) will acquire biotechnology company Kelonia Therapeutics for up to $7 billion in cash in a bid to expand its genetic medicine business.

The transaction consideration includes an upfront payment of $3.25 billion and subsequent payments once certain clinical, regulatory and commercial milestones are reached. Closing is expected in the second half of 2026, the companies said Monday.

Kelonia owns a proprietary in vivo gene placement system that allows a patient's body to generate chimeric antigen receptor T-cell therapies that can treat diseases. Its lead program is currently in phase 1 clinical trials for the treatment of relapsed or refractory multiple myeloma.