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Big Law

Eli Lilly to Purchase Sigilon Therapeutics to Expand Diabetes Treatments

Eli Lilly and Co said on Thursday it will acquire all the shares of Sigilon Therapeutics that it did not own to gain access to experimental cell therapies that can provide longer-term solutions for diabetes patients.

A major provider of diabetes drugs and insulin, Lilly owned nearly 8.44% stake in Sigilon as of March 27. It would pay $14.92 per share, or $34.6 million in upfront cash, for the rest of the company.

Sigilon shareholders will get an additional $111.64 per share if they achieve certain developmental and regulatory milestones, Lilly said.

Read the source article at reuters.com

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