Eli Lilly's Acquisition of Sigilon Therapeutics Boosts Diabetes Treatment Portfolio

Eli Lilly and Co announced its plans to acquire the remaining shares of Sigilon Therapeutics to expand its diabetes treatments. The deal, valued at $34.6 million in upfront cash, will give Lilly access to Sigilon's proprietary cell therapy candidate for type 1 diabetes. Sigilon shareholders may receive an additional $111.64 per share based on certain milestones. The acquisition is expected to close in Q3 2023.