NEW YORK, USA – NYSE-listed Eli Lilly and Company announced the successful completion of its acquisition of gene therapies firm Prevail Therapeutics.
The acquisition establishes a new modality for drug discovery and development at Lilly, extending its research efforts through the creation of a gene therapy program that will be anchored by Prevail’s portfolio of clinical-stage and preclinical neuroscience assets.
“We are pleased to complete the acquisition of Prevail and establish a gene therapy program at Lilly that has the potential to deliver transformative treatments for patients with neurodegenerative diseases such as Parkinson’s, Gaucher and dementia,” said Mark Mintun, M.D., vice president of pain and neurodegeneration research at Lilly.
The impact of this transaction will be reflected in Lilly’s 2021 financial results according to Generally Accepted Accounting Principles (GAAP). There will be no change to Lilly’s 2021 financial guidance for research and development expense or non-GAAP earnings per share as a result of this transaction. – BusinessnNewsAsia.com