Abivax (ABVX) shares surged in early trade after a French media report claimed Eli Lilly is weighing a potential €15 billion acquisition of the Paris-based biotech, which is also listed on Nasdaq. The stock was up about 32 percent following the report.
La Lettre said Abivax has been on Lilly's radar since the company delivered positive Phase 3 results for its ulcerative colitis drug obefazimod. The report added that Lilly is seeking guidance from France's Finance Ministry on whether any deal would fall under the country's foreign investment screening rules.
The speculation comes amid a strong start to 2026 for pharma dealmaking, with Amgen already completing its $840 million purchase of Dark Blue Therapeutics, Lilly agreeing to buy Ventyx Bio for $1.2 billion, and MSD reportedly in talks over a possible takeover of Revolution Medicines valued at up to $32 billion. The annual JPM Healthcare conference in San Francisco is traditionally a backdrop for early-year M&A announcements, although Abivax is not due to present.
Obefazimod, described as a potential first-in-class oral miR-124 enhancer, is being tested across three Phase 3 studies in moderately to severely active ulcerative colitis and a Phase 2b trial in Crohn's disease. Last year, two Phase 3 ABTECT induction studies showed a placebo-adjusted remission rate of 19.3 percent after eight weeks with a 50 mg once-daily dose.
An interim safety review from the maintenance phase flagged no concerns, and data from that stage are expected in the second quarter, paving the way for regulatory submissions later in the year. Initial Crohn's readouts are targeted for late 2026.
In a recent investor update, Abivax said the drug is positioned to become a future market leader in inflammatory bowel disease due to its targeted mechanism of action, which may also address fibrosis in Crohn's. The company is also assessing next-generation miR-124 enhancers and combination regimens with other UC therapies, including anti-IL-23 agents, PDE4 inhibitors and a4ß7 integrin blockers.
Chief executive Marc de Garidel declined to comment on the Lilly speculation but said Abivax would ultimately need a partner to commercialise obefazimod globally.
ABVX currently trades at $119.98 or 4.88% higher on the NasdaqGM.
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