Sigilon Therapeutics Rockets After Acquisition by Eli Lilly
Eli Lilly has announced its acquisition of Sigilon Therapeutics, its partner in diabetes treatment, causing Sigilon's biotech stock to surge by 438.2%. The deal values Sigilon stock at $14.92 per share, with a contingent value right worth up to an additional $111.64 per share in cash tied to clinical and regulatory milestones. The total value of the deal amounts to $309.6 million. The collaboration between Lilly and Sigilon aims to develop innovative islet cell therapy solutions for type 1 diabetes, and Sigilon is also working on treatments for lysosomal and liver diseases.