Eli Lilly to Acquire Prevail Therapeutics for $1 Billion
Through the acquisition, Eli Lilly will have access to Prevail’s portfolio of clinical-stage and preclinical neuroscience assets.
Eli Lilly and Company announced on Dec. 15, 2020 that it will acquire Prevail Therapeutics, a US-based gene therapy company, for $1 billion.
Through the acquisition, Lilly will have access to Prevail’s portfolio of clinical-stage and preclinical neuroscience assets that include PR001 for patients with Parkinson's disease with GBA1 mutations and neuronopathic Gaucher disease, PR006 for patients with frontotemporal dementia with GRN mutations, PR004 for patients with specific synucleinopathies, and possible gene therapies targeted at Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis, and other neurodegenerative disorders, Lilly said in a company press release. With Prevail’s pipeline, Lilly will work to create a new gene therapy program.
"Gene therapy is a promising approach with the potential to deliver transformative treatments for patients with neurodegenerative diseases such as Parkinson's, Gaucher, and dementia," said Mark Mintun, MD, vice president of pain and neurodegeneration research at Lilly, in the press release. "The acquisition of Prevail will bring critical technology and highly skilled teams to complement our existing expertise at Lilly, as we build a new gene therapy program anchored by well-researched assets. We look forward to completing the proposed acquisition and working with Prevail to advance their groundbreaking work through clinical development."
"Lilly is an established leader in neuroscience drug development and commercialization who shares our commitment to patients with neurodegenerative diseases, and I'm excited for Prevail to join the Lilly family," added Asa Abeliovich, MD, PhD, founder and CEO of Prevail, in the press release. “With its global scale and resources, Lilly will be the ideal organization to maximize the potential of our pipeline and accelerate our ability to bring these therapies to as many patients as possible. We look forward to working together to advance our shared mission."
Source: Eli Lilly and Company
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