Lilly agrees acquisition of Merida Biosciences in deal worth up to $2.875bn

Lilly’s planned acquisition of Merida Biosciences adds an antibody-engineering platform designed to selectively remove disease-causing antibodies while preserving normal immune function.

Eli Lilly has entered into a definitive agreement to acquire Merida Biosciences for up to $2.875 billion in cash, including an upfront payment and contingent milestone payments.

The transaction strengthens Lilly’s immunology portfolio and brings in Merida’s lead programme MER511, which has shown early Phase 1 reductions in pathogenic thyroid-stimulating antibodies.

Field	Content
Alert Type	Deal
Companies	Eli Lilly and Company; Merida Biosciences
Deal Type	Acquisition
Asset or Company	Merida Biosciences
Therapy Area(s)	Autoimmune and allergic diseases
Technology or Modality	Antibody-engineering platform designed to selectively degrade pathogenic autoantibodies
Lead Programme	MER511
Deal Value	Up to $2.875 billion in cash, including an upfront payment and contingent milestone payments
Geography	United States
What Happened	On 31 August 2026, Eli Lilly and Merida Biosciences announced a definitive agreement under which Lilly will acquire Merida for up to $2.875 billion in cash.
Why It Matters	The acquisition expands Lilly's immunology capabilities with a platform designed to target and remove disease-causing antibodies while preserving normal immune function.
Supporting Evidence	Initial Phase 1 data for MER511 showed robust reductions in pathogenic thyroid-stimulating antibodies with a favourable initial safety profile.
Supporting Context	Merida is developing biologics engineered to selectively degrade pathogenic autoantibodies implicated in a range of immune-mediated diseases.
Strategic Rationale	Lilly gains a precision immunology platform and pipeline that could complement its existing presence in autoimmune and allergic diseases.
Potential Impact	If successfully developed, Merida's programmes could provide new therapeutic approaches for immune-mediated conditions driven by pathogenic antibodies.
Key Takeaway	Lilly is investing up to $2.875 billion to acquire Merida and add a differentiated antibody-degradation platform to its immunology portfolio.
What to Watch	Regulatory approvals, expected transaction completion in the fourth quarter of 2026 and further clinical development of MER511.
Primary Source	Eli Lilly and Company
Relevant Date	31 August 2026

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