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Eli Lilly $LLY -0.25% agreed to acquire Engage Biologics Inc., a preclinical biotechnology company developing a non-viral DNA delivery platform, for up to $202 million in cash, including an upfront payment and additional payments tied to development milestones, the companies said.
Tethosome, the proprietary platform Engage is bringing to the deal, pairs lipid nanoparticle-delivered DNA with an mRNA-encoded component intended to enhance where and how strongly the payload is expressed in the body. Three long-standing obstacles in the DNA delivery field — how effective a dose is, how well patients tolerate it, and whether it can be administered more than once — are what Engage designed the platform to overcome. The San Carlos, California-based company has not publicly disclosed any specific therapeutic programs.
"We are excited to begin our next chapter with Lilly, which has demonstrated unmatched speed and a uniquely forward-thinking approach to genetic medicine," Engage co-founder and CEO Will Olsen said in a statement. "We believe that the combination of Engage's platform with Lilly's significant capabilities will meaningfully accelerate development of new genetic therapies."
