Lilly to acquire Prevail Therapeutics for $1B

By The Science Advisory Board staff writers

December 15, 2020 -- Eli Lilly will acquire Prevail Therapeutics for a total consideration of up to $26.50 per share in cash, or an aggregate of approximately $1.04 billion, contingent on the first regulatory approval for commercial sale of a Prevail product in certain countries.

The acquisition will extend Lilly's research efforts through the creation of a gene therapy program anchored by Prevail's portfolio of clinical-stage and preclinical neuroscience assets. Currently in development are PR001 for patients with Parkinson's disease with GBA1 mutations and neuronopathic Gaucher disease, as well as PR006 for patients with frontotemporal dementia with GRN mutations.

In Prevail's preclinical pipeline are PR004 for patients with specific synucleinopathies, as well as potential gene therapies for Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis (ALS), and other neurodegenerative disorders.

To receive the full $1.04 billion, regulatory approval for one of Prevail's products must be received by December 31, 2024.

Copyright © 2020

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