Eli Lilly accepts to acquire cancer drug maker Kelonia in deal worth up to $7 billion

TL;DR

Eli Lilly nears $2 bln deal for cancer biotech Kelonia, WSJ reports Eli Lilly will acquire biotech company Kelonia Therapeutics in a deal worth up to $7 billion, the company said Monday. Lilly will pay $3.25 billion upfront, and the remaining payments are contingent upon clinical, regulatory and commercial milestones, it said. The transaction is expected to close in the second half of 2026.