Eli Lilly to acquire Merida Biosciences for up to $2.88 billion, adding autoimmune antibody-degrading pipeline

Eli Lilly announced a transaction to purchase Merida Biosciences for up to $2.875 billion, combining an upfront cash payment with future milestone payments.

Merida, which emerged from stealth last year, is developing a novel approach that selectively degrades disease‑causing autoantibodies rather than broadly suppressing the immune system. The strategy aims to treat autoimmune and allergic conditions without interfering with normal immune function.

The deal gives Lilly access to Merida’s lead candidate, MER511, a potential therapy for Graves’ disease. MER511 entered a phase‑1 study in December, with participants receiving intravenous or subcutaneous doses.

Lilly’s senior vice president for immunology research highlighted the acquisition as a step toward changing the course of disease rather than merely managing symptoms, aligning with the company’s broader focus on innovative immunology platforms.