Eli Lilly's Acquisition of Sigilon Therapeutics Sends Shares Soaring
Sigilon Therapeutics shares are surging after Eli Lilly And Co announced its acquisition of the company for $14.92 per share in cash, with the potential for additional cash consideration. The transaction, expected to close in Q3 2023, comes after a collaboration between the two companies to develop encapsulated cell therapies for type 1 diabetes. Sigilon's near-term focus is on the development of SIG-002, its product candidate for type 1 diabetes, in collaboration with Eli Lilly.