Eli Lilly to acquire Kelonia Therapeutics in deal worth up to $7 billion, with $3.25 billion upfront payment, closing expected H2 2026

Eli Lilly/KLN-1010

Eli Lilly announced a definitive acquisition agreement with Kelonia Therapeutics, valuing the company at up to $7 billion in total consideration. The deal includes a $3.25 billion upfront payment, with additional payments tied to clinical, regulatory and commercial milestones. Closing is expected in the second half of 2026. The acquisition positions Lilly to bring KLN-1010, a first-in-class in vivo CAR-T therapy, through development and commercialization.

• Total deal value: up to $7 billion, comprising $3.25 billion upfront and milestone payments.
• Closes in H2 2026, bringing KLN-1010 fully under Eli Lilly control and resources.
• Largest in vivo CAR-T deal announced to date.
• Aligns with Lilly's oncology and cell therapy strategy following tirzepatide's dominance in metabolic disease.