Eli Lilly and Co. (LLY) Monday announced the completion of its acquisition of Versanis Bio. The deal will add Versanis' lead asset, Bimagrumab to Eli Lilly. Bimagrumab is currently in a Phase 2b study alone and in combination with semaglutide in adults living overweight or obese.
As per the agreement, Versanis shareholders could receive up to $1.925 billion in cash, inclusive of the upfront payment and other milestone payments.
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