- Lilly will acquire Kelonia for up to $7.0 billion in cash, including a $3.25 billion upfront payment.
- Transaction is expected to close in the second half of 2026, subject to regulatory approval.
- Kelonia's iGPS uses engineered lentiviral particles to enable in vivo gene placement and CAR‑T cell generation.
- Lead candidate KLN-1010 is a one‑time IV lentiviral anti-BCMA in vivo CAR‑T therapy in Phase 1 for relapsed/refractory multiple myeloma, with early data presented at ASH 2025.
Deal summary
Eli Lilly will acquire Kelonia Therapeutics for up to $7.0 billion in cash, including a $3.25 billion upfront payment and additional milestone payments tied to clinical, regulatory and commercial goals.
Timeline and conditions
The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the second half of 2026; accounting treatment will be determined under GAAP upon closing.
Technology and lead program
Kelonia's in vivo gene placement system (iGPS) uses engineered lentiviral particles with envelope and tropism modifications to selectively enter T cells in the body and enable in vivo generation of CAR‑T cells; the lead candidate, KLN‑1010, is a one‑time intravenous anti‑BCMA lentiviral in vivo CAR‑T therapy for relapsed/refractory multiple myeloma currently in Phase 1.
Clinical validation
Early Phase 1 data for KLN‑1010 were presented in the plenary session at the 2025 ASH Annual Meeting and were cited as supportive of the platform's clinical potential.
Advisors
Kirkland & Ellis LLP is acting as legal counsel to Lilly; Jefferies LLC served as financial advisor to Kelonia and Goodwin Procter LLP as Kelonia's legal counsel.
