Eli Lilly to Acquire Merida Biosciences for up to $2.88 Billion

07:16 AM EDT, 08/31/2026 (MT Newswires) -- Eli Lilly and Company (LLY) said Monday that it agreed to acquire Merida Biosciences for up to $2.88 billion in cash, including upfront and milestone payments, to expand its pipeline of treatments for autoimmune and allergic diseases. Merida is developing biologics designed to selectively eliminate disease-causing autoantibodies, it said. Its lead program, MER511, is in Phase 1 trials for Graves' disease and thyroid eye disease, it added. Lilly said Merida's pipeline also includes MER769, a preclinical program targeting food allergies, asthma, chronic spontaneous urticaria and other allergy-related conditions, as well as earlier-stage programs for kidney and other immune-mediated diseases. The deal is expected to close in Q4 of 2026, subject to regulatory approvals and other customary closing conditions, Eli Lilly said.