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Mergers & Acquisitions

Lilly will buy gene therapy–focused Prevail

by Lisa M. Jarvis
December 17, 2020 | A version of this story appeared in Volume 98, Issue 48
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Eli Lilly and Company will pay $880 million, plus up to $160 million, to acquire Prevail Therapeutics, a New York City–based biotech company developing gene therapies for neurodegenerative diseases. Lilly gains a pipeline of AAV9-based therapies, including two in clinical studies: PR001, for people with Parkinson’s disease with GBA1 mutations, and PR006, for people with frontotemporal dementia with GRN mutations. Lilly is the latest big pharma firm to enter the gene therapy space. Most recently, Bayer bought Asklepios BioPharmaceutical.

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