Eli Lilly is buying ARMO BioSciences in a deal valued at around $1.6 billion, to ramp up its immune-oncology pipeline. Under the deal, Lilly will pay $50 per share for ARMO in an all-cash transaction, securing itself access to the firm’s lead immuno-oncology asset, pegilodecakin, which is being studied in multiple tumour types. The drug is a PEGylated IL-10 which has shown clinical benefit as a single agent, and in combination with both chemotherapy and checkpoint inhibitor therapy, across several tumor types. Pegilodecakin is currently being studied in a Phase III clinical trial in pancreatic cancer, as well as earlier-Phase trials in lung and renal cell cancer, melanoma and others. ARMO also has a number of other immuno-oncology product candidates in various stages of pre-clinical development. " The acquisition of ARMO BioSciences adds a promising next generation clinical immunotherapy asset to Lilly's portfolio of innovative oncology medicines ,” note...
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