Eli Lilly Acquiring DICE Therapeutics for $2.4 Billion

Source: (PHOTO: WIBC)

INDIANAPOLIS (WISH) — Indianapolis-based Eli Lilly and Company will acquire DICE Therapeutics, Inc., a biopharmaceutical company that works to treat chronic diseases in immunology, for about $2.4 billion.

“We welcome DICE colleagues to Lilly and, together, we can tackle the challenges ahead in finding new treatments for patients with significant unmet medical needs,” Patrik Jonsson, executive vice president, president of Lilly Immunology, and Lilly USA, chief customer officer, said.

DICE shares will cost $48 per share in cash, and the transaction is expected to close in this year’s third quarter.