# Lilly agrees to buy hearing-loss gene therapy company Akouos for up to $610 million

Canonical page: https://technooptimist.io/stories/lilly-agrees-to-buy-hearing-loss-gene-therapy-company-akouos-for-up-to-d1ec20e7
Date: 18 Oct 2022
About: [Eli Lilly](https://technooptimist.io/companies/eli-lilly.md) · [AK-OTOF (Akouos)](https://technooptimist.io/neurotech/ak-otof.md)
Original source: https://www.biopharmadive.com/news/lilly-akouos-deal-acquisition-gene-therapy-hearing-loss/634350/

Lilly agreed to acquire Akouos for $12.50 a share in cash, a 78% premium, plus a contingent value right worth up to $3 a share. Akouos's lead program, AK-OTOF, was still preclinical: an AAV gene therapy meant as a one-time treatment for OTOF-related deafness.

## Key facts

- Up to $610 million in total including the contingent payments.
- One $1 payment depended on dosing the fifth AK-OTOF patient by the end of 2024.
- Another $1 is tied to dosing the first patient in a Phase 3 trial, or FDA approval, by December 31, 2026.
- Akouos estimated about 200,000 people have OTOF-mediated hearing loss.

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