(RTTNews) - Eli Lilly and Company (LLY) and Versanis Bio announced a definitive agreement for Lilly to acquire Versanis, a private clinical-stage biopharmaceutical company focused on the development of new medicines for the treatment of cardiometabolic diseases. The company's lead asset, bimagrumab, is being advanced in the BELIEVE Phase 2b study as a treatment to help adults achieve and maintain both fat loss and a healthy body composition.
Versanis shareholders could receive up to $1.925 billion in cash, inclusive of an upfront payment and subsequent payments upon achievement of certain development and sales milestones.
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