The acquisition expands Lilly's immunology portfolio to include DICE's novel oral therapeutic candidates, including oral IL-17 inhibitors currently in clinical development, to treat chronic diseases in immunology
Eli Lilly corporate center in Indianapolis, Indiana, US. (Credit: Momoneymoproblemz from Wikimedia Commons)
Eli Lilly and Company (NYSE: LLY) today announced the successful completion of its acquisition of DICE Therapeutics, Inc. (NASDAQ: DICE). The acquisition expands Lilly’s immunology portfolio to include DICE’s novel oral therapeutic candidates, including oral IL-17 inhibitors currently in clinical development, to treat chronic diseases in immunology.
“Since our founding nearly 150 years ago, we’ve strived to make life better for people around the world – but we know that to achieve this goal, we have to bring the brightest minds to Lilly,” said Ajay Nirula, Ph.D., senior vice president of immunology at Lilly. “With the passion and expertise of our new colleagues from DICE, we look forward to continuing our pursuit of discovering and delivering life-changing medicines for patients living around the world with chronic immunologic diseases.”
Lilly’s tender offer to acquire all of the issued and outstanding shares (“Shares”) of common stock of DICE, at a purchase price of $48 per Share in cash, without interest and less any applicable tax withholding, expired as scheduled at one minute past 11:59 p.m., Eastern time, on Aug. 8, 2023 and was not further extended.
Computershare Trust Company, N.A., the depositary and paying agent for the tender offer, has advised Lilly that as of the expiration of the tender offer, 42,265,390 Shares were validly tendered and not properly withdrawn, representing approximately 88.4% of the issued and outstanding Shares.
Such Shares have been accepted for payment and will be promptly paid for in accordance with the terms of the tender offer. Following completion of the tender offer, Lilly completed the acquisition of DICE through the previously planned second-step merger. DICE’s common stock will be delisted from the NASDAQ Global Market.
Source: Company Press Release