Eli Lilly’s $3.25B acquisition of Kelonia Therapeutics caps startup’s tortuous ride
Eli Lilly is spending $3.25 billion to accumulate Kelonia Therapeutics, a small biotech firm growing cell therapies for most cancers and autoimmune ailments, the businesses introduced Monday. Lilly might pay extra if Kelonia achieves specified scientific, regulatory, and business milestones. The acquisition is a boon for the small startup, which has subsisted on $60 million…