Lilly agrees to acquire Merida Biosciences for up to $2.875B in cash

Lilly signed a definitive agreement on August 31, 2026 to acquire Merida Biosciences, a Cambridge, Massachusetts biotech, for up to $2.875 billion in cash including milestones. Merida's lead candidate MER511 is in Phase 1 for Graves' disease and thyroid eye disease, and its platform aims to clear disease-causing autoantibodies. Closing is expected in the fourth quarter of 2026, subject to regulatory approvals.

• Up to $2.875B in cash, including milestones
• Lead candidate MER511 in Phase 1 for Graves' disease and thyroid eye disease
• Expected close in Q4 2026, subject to regulatory approvals