Eli Lilly to Purchase Dice Therapeutics for $2.4 Billion

Eli Lilly and Co agreed to buy Dice Therapeutics Inc for about $2.4 billion in cash on Tuesday, bolstering its immune disease-related portfolio with a largely oral drug developer.

Dice’s lead drug DC-806, which is currently in a mid-stage trial, is an immunology drug for a skin condition called psoriasis and other diseases.

The drug’s mechanism is similar to Lilly’s Taltz and works by inhibiting a protein called IL-17, which provides inflammatory signal.

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