Eli Lilly to acquire DICE Therapeutics for immunology innovations

Betsy Goodfellow | June 21, 2023 | News story | Business Services DICE Therapeutics, Eli Lilly, Immunology, acquisition, immunology 

Eli Lilly and DICE Therapeutics have announced a definitive agreement for Lilly to acquire DICE, a biopharmaceutical company focusing on the development of novel oral therapeutic candidates, such as oral IL-17 inhibitors, to treat chronic diseases in immunology, while using its proprietary DELSCAPE technology.

Lilly is expected to purchase DICE for approximately $2.4bn, or $48 per share, in cash, payable on closing. This transaction has been agreed by both companies’ boards of directors and is expected to close in the third quarter of 2023.

Patrik Jonsson, executive vice president, president of Lilly Immunology and Lilly USA and chief customer officer, commented: “In combination with its novel technology and expertise in drug discovery, DICE’s talented workforce and passion for innovation will enhance our efforts to make life better for people living with devastating autoimmune diseases. We welcome DICE colleagues to Lilly and, together, we can tackle the challenges ahead in finding new treatments for patients with significant unmet medical needs.”

Kevin Judice PhD, DICE’s CEO, added: “We’re eager to see our pipeline, including our oral IL-17 inhibitors, DC-806 and DC-853, benefit from Lilly’s resources and global reach and I’m excited by the prospect of watching these two talented teams in a united quest for scientific innovation. Our novel approach to discovering and advancing oral, small molecules against validated protein-protein interaction targets has even greater potential with Lilly’s industry-leading clinical development capabilities to get these medicines to patients suffering from autoimmune diseases.”

Betsy Goodfellow

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