Offers 57 usd/Morphic share (Il Sole 24 Ore Radiocor) - New York, 08 Jul - The US pharmaceutical group Eli Lilly announced a definitive agreement to acquire Morphic, a biopharmaceutical company developing oral integrin therapies for treatment of serious chronic diseases, for 3.2 billion dollars.

Eli Lilly is offering 57 dollars per share in cash.

The transaction is not subject to any financing condition and is expected to close in the third quarter of 2024, it added.

Morphic's lead program is a selective oral small molecule inhibitor for the treatment of inflammatory bowel disease.

The molecule is being evaluated in two Phase 2 studies in ulcerative colitis and one Phase 2 study in Crohn's disease.

Additionally, Morphic is developing a preclinical pipeline of other molecules for the treatment of autoimmune diseases, pulmonary hypertensive diseases, fibrotic diseases and cancer.

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(RADIOCOR) 08-07-24 13:17:51 (0334) 5 NNNN