Oct 18 (Reuters) - Eli Lilly and Co (LLY.N) volition get familial medicine developer Akouos Inc (AKUS.O) for astir $487 cardinal successful currency arsenic the drugmaker aims to bolster its arsenal of cistron therapies that people a scope of disabilities.
Shares of Akouos, which is processing cistron therapies for sensorineural proceeding loss, soared 84% to commercialized 40 cents supra Lilly's connection terms of $12.50 earlier the opening bell.
The woody besides includes a outgo of $3 per stock contingent connected definite events related to cause trials and has the imaginable to summation the transaction size to $610 million, the companies said connected Tuesday.
Eli Lilly has been striving to physique its pipeline of cistron therapies, pursuing the acquisition of Prevail Therapeutics Inc for $1 cardinal past year.
It announced a $700 cardinal investment successful a caller probe hub successful Boston, Massachusetts earlier this twelvemonth that focuses connected processing cistron therapies.
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Reporting by Leroy Leo successful Bengaluru; Editing by Shinjini Ganguli and Anil D'Silva
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