Eli Lilly and Company has acquired Engage Biologics in a deal valued at up to $202 million in cash, strengthening Lilly’s capabilities in non-viral genetic medicines.
Engage Bio, a preclinical biotechnology company founded in 2021, has been developing the Tethosome platform, a non-viral DNA delivery system designed to address major challenges in DNA therapeutics, including potency, tolerability, and redosability. The platform combines engineered DNA payloads with lipid nanoparticle delivery and an mRNA-encoded proprietary Tethosome technology intended to improve localization and increase expression.
The company’s DNA payloads are also engineered to improve tolerability while maintaining advantages associated with DNA-based therapies, including durability and programmability.
The acquisition aligns Engage’s technology platform with Lilly’s broader genetic medicines portfolio and development capabilities. Under the terms of the agreement, Lilly will pay an upfront amount along with additional milestone-based payments tied to development achievements.
According to the companies, the transaction is intended to accelerate the development of new genetic therapies.
Cooley LLP served as legal counsel to Engage.
KEY QUOTES:
“With a lean organization and modest seed funding, I am incredibly proud of the rapid progress Engage has made toward a new class of genetic medicines. This is a testament to what a nimble, passionate team can achieve with the tools of synthetic biology.
We are excited to begin our next chapter with Lilly, which has demonstrated unmatched speed and a uniquely forward-thinking approach to genetic medicine. We believe that the combination of Engage’s platform with Lilly’s significant capabilities will meaningfully accelerate development of new genetic therapies.”
Will Olsen, Co-Founder and CEO, Engage
