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Eli Lilly agrees to acquire cancer drug maker Kelonia in deal worth up to $7 billion
The deal gives Lilly access to Kelonia’s in vivo CAR-T platform and a lead multiple myeloma drug that showed early clinical promise in four patients.
- On Monday, April 20, 2026, Eli Lilly and Company announced a definitive agreement to acquire Kelonia Therapeutics for up to $7.00 billion, including a $3.25 billion upfront payment, with closing expected in the second half of 2026.
- Kelonia's proprietary in vivo gene placement system, iGPS, uses engineered lentiviral particles to facilitate tissue-specific delivery and eliminate ex vivo manufacturing complexities that limit current CAR-T therapy accessibility.
- Early clinical results for KLN-1010, presented at the 2025 American Society of Hematology Annual Meeting, demonstrated promising tolerability and rapid, durable responses targeting the BCMA protein in multiple myeloma.
- Lilly Oncology President Jacob Van Naarden said the "early clinical data for KLN-1010 are highly encouraging," viewing the platform as proof of concept while planning to rapidly advance the therapy.
- Kelonia CEO Kevin Friedman said the iGPS platform is "positioned to broaden the reach of cell therapy" across cancers and serious diseases, extending treatment possibilities beyond current CAR-T landscapes.
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The US pharmaceutical company pays up to seven billion dollars for the acquisition. Eli Lilly wants to become more independent from a business with the acquisition.
Eli Lilly’s $3.25 billion acquisition of Kelonia Therapeutics caps startup’s tortuous ride
Eli Lilly is spending $3.25 billion to acquire Kelonia Therapeutics, a small biotech company developing cell therapies for cancer and autoimmune diseases, the companies announced Monday. Lilly could pay more if Kelonia achieves specified clinical, regulatory, and commercial milestones. The acquisition is a boon for the small startup, which has subsisted on $60 million over the last five years and previously struggled to stay afloat. Three time…
Lilly to acquire Kelonia Therapeutics to advance in vivo CAR-T cell therapies | Eli Lilly and Company
Lilly to acquire Kelonia Therapeutics to advance in vivo CAR-T cell therapies Kelonia's lead program, KLN-1010, is a potentially first-in-class lentiviral in vivo CAR-T therapy currently in Phase 1 for relapsed/refractory multiple myeloma with clinical data recently highlighted in the 2025 ASH…
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